/The Irish Times/ daily newspaper plans to cut its 710-strong workforce by 250, in a move aimed at trimming losses that are expected to reach over IEP 17 million in 2002. The company has targeted the 250 redundancies to achieve savings of IEP 10 million annually and hopes to cut another IEP 7.5 million from non-wage operating costs. It had planned to begin the redundancy programme by the end of January 2002. However, implementation is likely to be stalled pending negotiations with the company's group of trade unions.
A plan drawn up in late 2001 by management at the Irish daily newspaper, The Irish Times, calls for one-third of its workforce to be cut in a bid to stem projected losses of over IEP 17 million in 2002.
The Irish Times daily newspaper plans to cut its 710-strong workforce by 250, in a move aimed at trimming losses that are expected to reach over IEP 17 million in 2002. The company has targeted the 250 redundancies to achieve savings of IEP 10 million annually and hopes to cut another IEP 7.5 million from non-wage operating costs. It had planned to begin the redundancy programme by the end of January 2002. However, implementation is likely to be stalled pending negotiations with the company's group of trade unions.
Consultants appointed by the group of unions agree that the company's projected losses would be unsustainable if the current situation was allowed to continue unchecked. The consultants, Paul Sweeney & Associates and Farrell, Grant & Sparks, say that the company's cost savings plan 'needs to be finalised in order that the cost of rationalisation can be determined and included in the plan.'
The unions' consultants believe that there is room for the company to borrow funds to meet short-term working capital requirements and to fund rationalisation costs, 'provided that a viable business plan is agreed and made available to lenders as the basis for providing funds'.
The editor, Conor Brady, said that, notwithstanding the cuts, the newspaper's 'character and ethos' would remain the same. It would 'remain independent of all external interests, primarily concerned with serious issues. It would continue to provide the most comprehensive news coverage and most informed opinion and analysis.'
The National Union of Journalists (NUJ) condemned 'the mismanagement responsible for the purported financial crisis' and in common with craft and general unions is implacably opposed to any compulsory redundancies.
Eurofound doporučuje citovat tuto publikaci následujícím způsobem.
Eurofound (2002), Irish Times cuts staff to avert cash crisis, article.
