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13/05/2009
Eircom To Cut 1,200 Jobs
Some 1,200 workers are to lose their jobs at Eircom in a deal agreed by bosses and union leaders, it was announced last night.
The job losses are part of a number of measures to be introduced by the telecoms company so-called restructuring programme.
The company will enforce a two-year pay freeze across the entire group until 2011, allowances are to be slashed by as much as a quarter, and performance-related annual bonus payments are being cancelled over the next two years.
Cathal Magee, Eircom's acting group chief executive officer, said the cutbacks were necessary ensure the troubled company survives.
"The company and the union representatives have demonstrated the willingness to make difficult but necessary decisions to ensure the long term competitiveness of Eircom," he said.
"This announcement is an important first step. Management recognises the very significant impact of the current economic environment and is committed to securing far-reaching cost reductions and an overall vision and strategy framework for the business."
The job losses, which will happen over the next two years, will target permanent employees as well as contract staff.
(DW/BMcC)
The job losses are part of a number of measures to be introduced by the telecoms company so-called restructuring programme.
The company will enforce a two-year pay freeze across the entire group until 2011, allowances are to be slashed by as much as a quarter, and performance-related annual bonus payments are being cancelled over the next two years.
Cathal Magee, Eircom's acting group chief executive officer, said the cutbacks were necessary ensure the troubled company survives.
"The company and the union representatives have demonstrated the willingness to make difficult but necessary decisions to ensure the long term competitiveness of Eircom," he said.
"This announcement is an important first step. Management recognises the very significant impact of the current economic environment and is committed to securing far-reaching cost reductions and an overall vision and strategy framework for the business."
The job losses, which will happen over the next two years, will target permanent employees as well as contract staff.
(DW/BMcC)
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