03/02/2011

Job Losses To Hit Permanent TSB

Permanent TSB is to expected to announce up to 350 jobs cuts this afternoon at an internal meeting.

According to reports this morning, senior management will be briefed on the cost-cutting proposals and staff will be told full details in the coming days.

The bank, owned by Irish Life & Permanent, currently employs 2,000 people.

Workers are to be given details of the plan in the coming days, but the company has declined to comment.

Meanwhile today, Tipperary manufacturing firm Pall Ireland has announced it is closing its plant with the loss of 71 permanent and 23 temporary jobs.

The company is expected to close the Tipperary plant by the end of May. A company spokesman said it was only using a fraction of the plant's capacity, which was hitting its costs. Work carried out there will now be transferred to another company facility.

Fine Gael Tipperary TD Tom Hayes said described the decision as a "black day for Tipperary".

"This is terrible news for the staff, many of whom have given years of service to the company. I would urge Pall Manufacturing to reconsider this sudden decision, as Tipperary town has suffered very badly from job losses during this recession.

"The staff are not being offered any chance to relocate.

Labour Senator Phil Prendergast echoed Mr Hayes disappointment at the decision saying that the closure of Pall Ireland in Tipperary town is a devastating blow to one of Ireland’s unemployment blackspots.

"This is also awful dreadful news for a local economy, which has been ravaged by unemployment. Shops and services will feel the effects and the atmosphere in the whole town will be further deflated. Even during the boom years, Tipperary town suffered from government neglect."

(DW)

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