It seems that John Nagle and John Williamson are not the only staff set for the chop at electronic payments group Payzone. The company last week told workers at an office in Blackpool, operated by Cardpoint before the merger in December with Alphyra, that it is to close in mid-March.

The move had been rumoured for some time and employees have not been shy about venting their anger to the local media. The decision has also fuelled the recent Anglo-Irish divide at Payzone.

"For me and others, this is another blow that is being dealt by this new company and, to be truthful, we can't wait to be made redundant," one worker told the daily Blackpool Gazette.

Twenty-six staff are set to lose their jobs, according to reports, with 14 others taking on new roles at other locations.

The closure is part of the painful integration of Alphyra and Cardpoint, which operates about 6,000 automated cash machines across the UK.

The Dublin-based company raised €8 million in fresh equity from its investors this week to bolster its cash position.

Payzone chief executive Nagle is thought to have signed off on the plan to close the Blackpool office, a move that was delayed by the recent boardroom row that looks set to conclude with the two Irish executives being removed by shareholders at an egm of shareholders on March 10th. Nagle and Williamson should at least find comfort in large compensation pay-outs.