Cider maker C&C is planning up to 70 temporary layoffs from its production plant in Clonmel, after a downturn in cider sales in Britain due to exceptionally poor weather.
Staff and unions at the Co Tipperary plant have been informed of the move and given four weeks notice. A spokesman insisted today that the intention is that these lay-offs will be temporary.
The company earlier this week issued its second severe profit warning in less than three weeks as it continued to feel the impact of competition and bad weather.
The company said first-half operating profit is now expected to fall 35%.
C&C employed an extra 190 full time staff in Clonmel before the recent downturn of cider sales in the UK.
The company currently employs about 650 staff at the plant.
Today analysts at Morgan Stanley reduced their outlook for C&C.
Brokers cut its share rating from over-weight to equal-weight.
Shares in C&C were trading up 22 cent at €6.47 in Dublin this afternoon.
