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Bord Gais cuts costs

BORD Gais is to put a radical cost-cutting package to its almost 1,000 staff, including the ending of its defined benefit pension scheme.

The plan will also include the introduction of performance- related pay across most of the company and a slashing of overtime. The package is designed to deliver €115m in savings between now and 2015, it is believed.

John Mullins, Bord Gais chief executive, will shortly begin discussions with unions on the package. He said the savings at the company had to be delivered and Bord Gais would be a very different company by 2015.