THOMAS CROSBIE Holdings Ltd, publisher of both the Irish Examinerand the EveningEcho titles, have briefed staff on proposals to cut costs by seeking a pay freeze for 2009, along with a series of voluntary alternative working structures.
Management at both the Irish Examinerand the Evening Echobriefed staff yesterday on the proposals, stressing that they were not seeking any redundancies but were anxious instead for staff to look at the alternative working arrangements that they were proposing.
Among the changes proposed are ones where staff could take up either a two- or three-year career break for which they would receive a percentage of a year’s salary while the post would be retained for them if they wished to return.
The proposals involve staff opting for a two-year career breaking receiving 50 per cent of one year’s salary, capped at a maximum of €20,000, while those who opt for a three-year career break would receive 75 per cent of one year’s salary, capped at a maximum of €35,000.
Irish Examinerchief executive Tom Murphy told The Irish Timesthat the pay freeze and voluntary alternative working structure proposals were being sought in recognition of the changing economic environment both domestically and internationally.
TCH Ltd employs over 300 people in the Irish Examinerand the Evening Echoat its premises at the City Quarter on Lapp's Quay, having moved there from its base in Academy Street in 2004.
The group also publishes the Sunday Business Postand the Irish Postand some 15 regional titles spread throughout both the Republic and Northern Ireland, while it also has interest in four radio stations.
