Northern Ireland's largest textile company today announced it was making 175 workers redundant after a "dramatic" drop in turnover.
Confirmation of the cut of more than 20 per cent of the workforce was announced by hosiery company Adria in Strabane , Co Tyrone, and will be a major blow to a border town regularly hit by job losses.
The company, the largest supplier of hosiery products to troubled High Street store Marks & Spencer, is the latest in a long line of Northern Ireland textile companies to hit trouble in the face of cheaper foreign competition.
Adria management said it had decided the job losses were necessary following an urgent review of its business carried out over the past week. "This is as a direct result of particularly harsh global trading conditions in the first financial quarter of this year and a dramatic reduction in turnover - down 25 per cent on 2004 figures," the company said in a statement.
Adria said the cuts in their 790-strong workforce were necessary to "ensure the company can continue to face the future demands of the market place".
The company has entered into a 90-day consultation period with unions to agree the details and timescale of the redundancies and regretted any uncertainty for employees during that period.
"Despite the current market conditions, Adria remains confident in its position, outlined to staff in January, that the company has a long term future in Strabane and will continue to be a significant employer in the area," the company said.
PA