Employees have been notified that the company would be seeking up to 55 redundancies, but that the plant will not be closed, and it is understood that the restructuring plan will be negotiated at talks with workers and unions to take place over the coming days.
CRH said that the restructuring follows five years of massive downslide in the Irish construction industry, with activity now 80% below the 2007 peak levels.
“Unprecedented deterioration in market conditions, combined with a sustained decline in the demand for cement products, has led to the need for a significant restructuring plan to be put in place at the Limerick facility,” the company said in a statement.
The Irish Cement plant in Limerick has been in existence since the 1930s.
