Bicycle components firm to shed 50 jobs

A company that manufacturers bicycle components has announced plans to close its facility in Co Tipperary with the loss of more than 50 jobs.

SRAM Ireland said 31 permanent and 22 temporary workers would be laid off in the next nine months as part of the closure of its assembly and distribution centre in Carrick-on-Suir.

The company blamed the decision on competition from suppliers based in the Far East.