Wednesday, January 21, 2009

More Irish Layoffs

Grocery store chain Superquinn is cutting 400 jobs and closing one of its stores and transportation company Bus Éireann is to cut 320 jobs and its fleet is to be reduced by 150 vehicles.

In addition to the job cuts and reduction in its fleet, the plan includes a pay freeze up to the end of 2009 as well as the deferring of payment of the terms of Towards 2016.

The company says that the 'unprecedented economic downturn' led to a 4% decrease in Bus Éireann customer numbers in 2008.

It estimates that there will be a further 5% to 6% fall in passenger numbers in 2009.
Bus Éireann says it hopes that savings from the plan will restore the company to a strong financial position by the end of 2010.

Last week, Dublin Bus announced 290 jobs as part of a series of cost-cutting measures.
Dublin Bus is also withdrawing 120 buses, which is 10% of its fleet. It said no routes will be removed, but some services would be amalgamated and that the frequency of buses would be adjusted in some areas.


Joey7777 said...

I admittedly have a lot of trouble understanding economics/recessions/depressions, but this one seems to be very global.

American Irish said...

Yep, everyone's market is now connected and it truly is a global market. It's a good thing in a way because it'll hopefully be a deterent to war. But in bad times, it will affect everyone now, not just one country.

Joey7777 said...

Well, if all that factors in as a partial war-preventative, that certainly is a good side to it.