Job losses likely at CRH’s northern Europe operations

Incoming chief executive Albert Manifold has said staff reductions in CRH’s northern European operations will be an inevitable part of continued cost reduction drives by the building materials group.

Mr Manifold, currently CRH’s chief operating officer, is due to succeed retiring CEO Myles Lee next year.

Speaking yesterday as part of the group’s interim results presentation, he said CRH had not yet reached the limit of its cost reduction capabilities and could further extend targets if markets remain challenging.