Savings package ‘may not be enough’

THE €10 million savings package pushed though by Irish Continental Group (ICG) on its Irish Ferries operations may not be enough to keep the group competitive in a highly-aggressive market, the group has warned.

The deal, which sees 500 workers replaced by cheaper contract overseas workers, stands for three years.

But ICG manager director Eamonn Rothwell warned the Irish Ferries cost base would have to be reviewed when the deal runs out.