Costs threaten 1,500 co-op jobs

UP to 1,500 jobs could be under threat in the long-term at Dairygold as the leading dairy co-op struggles with excessive costs that cut profits to the bone last year.

Without a €6 million-plus windfall from the sale of shares in IAWS, losses would have been incurred. While the jobs figure may not turn out to be as high as 1,500 and an actual figure has not been publicly put on record, it is believed from within Dairygold that the higher figure, if achieved, would put a much firmer foundation under the company in the longer term. The total jobs tally may include job losses at the beef and pig meat divisions due to be sold on.

However, it is believed internally that half of the 3,000 jobs would need to go ideally in order to whip the dairy group back into proper commercial shape for the future.