Co-ops call for pay freeze over the slowdown and poor outlook

THE country’s co-ops yesterday called for a pay freeze because of the severe slowdown in economic activity and poor outlook for 2009.

Their umbrella body, the Irish Co-operative Organisation Society (ICOS), said these factors should put a big question mark over the recent pay agreement.

Patrick McLoughlin, president, said it was not realistic to ignore the impact of the severe downturn in economic activity and the banking crisis, which were affecting all businesses.