Unite regional organiser Jackie Pollock said “This came as a bolt from the blue for the workers. It’s a really devastating blow which has left them reeling just before they go off for the Christmas break.” He hit out at the company for announcing the 99 redundancies. “It means they only have to pay one month’s notice instead of the three months that it would be if they announced 100 redundancies or over.

Ryobi has been in Carrickfergus since 1990 and is a supplier of aluminium casings to Ford, Jaguar, Land Rover, Aston Martin, Saab, Isuzu and Fiat. It is the latest auto components company to be hit by the slump in car sales.  Earlier this month French car components company Montupet announced redundancies in Northern Ireland. Meanwhile Belfast-based Multi Development, the UK arm of the Dutch property company Multi Corporation, announced it was halving its workforce.

 The company develops and manages shopping centres across the UK and is responsible for the GBP 400 million (289 million Euro) Victoria Square retail and residential redevelopment in Belfast, which has been picking up international and national awards in recent weeks. The company said it was cutting its 30-strong team to 15 and would concentrate its focus on the management of existing retail assets such as SouthGate in Bath and Summer Row in Wolverhampton.

Managing Director Paul Sargent said that “Cost reductions and restructuring are essential considerations in such a dramatic economic downturn where the property market is in freefall.”