Late bid fails to save 600 SR Technics jobs

FRANTIC attempts to save 600 jobs at Dublin-based aviation firm SR Technics failed yesterday after the company’s Swiss owners refused a government request to allow workers to take two-weeks unpaid leave while the IDA evaluates bids for the firm.

SIPTU, the main union representing the workers facing redundancy, had demanded Tánaiste Mary Coughlan personally intervene in the negotiations with the firm. She reportedly did this yesterday afternoon only to have her request for a stay on the redundancies refused.

SIPTU’s Pat Ward said: “SR Technics have shown contempt towards the workers, the Labour Court and the Government.”

He added: “workers did everything they could to save this strategically important plant, they offered to ensure 20% cost savings across the board, including a 10% wage reduction.”

At a meeting with IDA and Enterprise Ireland executives yesterday morning SIPTU representatives outlined a number of options to help bridge the critical gap between the departure of SR Technics and a new ownership structure being established. These included the creation of an investment vehicle by the Government that could invest in the plant and serve to facilitate new investors, as well as a potential management buyout.

As many as 30 expressions of interest have been made in SR Technics and the IDA is in negotiations with four groups that wish to take over the company.

However, the IDA warned that it may take up to two weeks to evaluate the various bids.

Following yesterday’s 600 redundancies SR Technics plans to let go a further 100 employees later this month.