Youghal Carpet Yarns,To close at end of business today
About 260 people are to lose their jobs with the closure of the Youghal Carpet Yarns factory in East Cork. Union representatives and workers who attended a meeting at the plant this morning were told that the factory at Carrigtwohil would shut down at the close of business today.
The American-owned company said in a statement that there had been a total collapse of orders in recent weeks. The management and unions agreed on a survival plan involving 90 redundancies only last December.
The company has been faced with increased competition from low-cost producers abroad over the past 20 years.
It was announced this evening that a Dublin haulage company has gone into receivership, with the loss of 72 jobs. Con Transport Limited, based at Baldonnel in Dublin, and with depots in Cork and Sligo, announced that it was closing down after 21 years in business.
The Company blamed an "excessive" increase in its insurance premium, which it said rendered the business unsustainable. In a statement, the company also blamed substantial increases in labour costs over the last few years as well as a 25% rise in the cost of fuel over the last 2 years.
It says this rise was further compounded by the 0.05p imposed in the last Budget. The company says it wishes to acknowledge and thank all its staff for all their efforts and commitment over the years.
Saehan Media has confirmed that 50 people are to be made redundant at its video manufacturing plant in Sligo. Most of those to be let go are temporary staff but 11 permanent employees will also lose their jobs. The regional manager of the IDA, Joe McHugh, has said that the future of Saehan in Sligo is not at risk.
Meanwhile, the technology firm Digital Channel Partners has suspended trading and is laying off 27 remaining staff. RTÉ understands that some of the staff have not been paid for three months. The company was founded in July 1999 and is based in Blanchardstown, County Dublin.
