Three Ireland to cut up to 150 staff as rising costs hit earnings

Mobile phone provider, which employs more than 1,300 staff including in Limerick and Dublin, set to axe 10% of workforce 

Three Ireland said it is experiencing 'lower earnings and margin growth year-on-year'.

Mobile phone provider Three Ireland plans to cut up to 150 jobs, or over 10% of its total staff, as the company's earnings continue to be hit by rising costs. 

The company, which is the largest emobile telecoms provider in the Republic of Ireland, employs more than 1,300 staff, including at a customer-care facility in Limerick and at head offices in Dublin, but there were no details whether the cuts would be concentrated on specific divisions. 

It is also well known as the sponsor of the 3Arena and 3Olympia venues in Dublin. The business, however, has been hit by rising costs which have continued to squeeze earnings, the company said. 

"Prior to reaching this difficult decision, Three Ireland has implemented a number of measures in a bid to reduce operating costs," a spokesman for Three Ireland said in a statement. 

"However, the business continues to experience commercial performance challenges, with lower earnings and margin growth year-on-year, as operating costs continue to increase.

"The measures announced today position the business on a stronger platform for the future, ensuring it can maintain its market leading position and will enable growth," the spokesman said. 

Three Ireland has a share of over 43% of the market for mobile phone services after investing a total of €2bn in its operations here. 

Earlier this week, the regulator, the Commission for Communications Regulation, published a review that eased some market restrictions on rival Eir in wholesale markets. 

ComReg ruled that Eir has significant market power in providing access to duct and poles, and in the next-generation wholesale fibre broadband market.

"The regulatory framework, which aligns with that in place in many other European countries, should encourage ongoing investment and innovation in next-generation broadband services, including FTTP [fibre to the premises]," it said.