€32m needed to save IFI
Workers’ representatives at the ailing company said yesterday that they had agreed to wage cuts of 10%, saving IFI €3.8 million, as part of their contribution to keeping the plants at Arklow, Cork and Belfast viable.
A spokesman for the Department of Enterprise, Trade and Employment said senior plant management had provided an outline of a revised business plan, which it was hoped would protect the firm and more than 600 jobs from the effects of an excessive supply of fertiliser on the European market.
