Christmas bonus axed as LacPatrick tightens belt
A series of cuts for staff at LacPatrick Co-op were announced last week by management following warnings that the financial situation at the business remained "difficult".
However, a co-op spokesman insisted that payments to its 900 milk suppliers would not be delayed this month.
In a statement read out to staff at LacPatrick's three operating centres in Monaghan town, Ballyrashane and Artigarvan, management said "urgent measures" were required to "reduce costs and support the survival of the business until the merger with Lakelands completes".
The cuts announced mean the co-op:
• Is unable to pay a Christmas bonus this year - which is usually worth two weeks' wages;
• Is unable to continue with service pay for long-serving staff;
• Is reducing Bank Holiday pay to double time;
• Is suspending its sick pay scheme.