Monday, September 03 12:39:39
CRH today told staff at its Irish Cement facility in Limerick that it is to cut 55 workers as demand for construction products continues to decline.
The company blamed a massive downturn in the construction sector - where activity is down 80pc from its 2007 peak.
It's understood details of the restructuring will be negotiated at talks with unions over the coming days.
The Irish Cement plant in Limerick has been in existence since the 1930s, and was described by one source as part of the fabric of the city.
In a statement Irish Cement Ltd said that it had met with employees and that an unprecedented deterioration in market conditions, combined with a sustained decline in demand has forced a 'significant restructuring plan' to be implemented at the Castlemungret facility in Co. Limerick.
The company says that activity is now 80pc below 2007 peak levels with little indication of improvement in the foreseeable future. The company says that they will meet with unions and employees to finalise the detail of the restructuring plan.