McCormick Macnaughton, the distributor of Caterpillar machinery in Ireland, has suffered a 75 per cent collapse in business and plans to lay off 100 staff to cut costs.
The company said it posted losses of €11 million last year because of the decline in the construction sector. It claims it is not in a position to honour a staff wage agreement, and is in discussions with staff about reducing its workforce from 400 to 300.
Details of the company’s...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team