Today some less than positive news has emerged about C&C Brewers (www.candcgroupplc.com). C&C, the makers of Magners cider, has warned that there are plans for ‘significant job cuts‘. The bad summer has had a grave effect on their profits. The company announced this morning that it would soon unveil a comprehensive restructuring and cost reduction strategy, which is likely to focus on headcount reduction. So all that rain has had it’s effect.
Its cider sales in Ireland were down 7% in the first half of the year, compared to a year earlier. In the UK sales were flat but it lost market share. Maurice Pratt, the chief executive, said the company had “invested in production … and we must now adjust our cost base to reflect where our sales are.”