One of the oldest Irish-based US firms has announced job losses along with closures of some of its Irish plants. Irish Driver-Harris (IDH), based in Ireland since 1934, will shed 42 jobs through closure of its plant in Kilkenny city along with the sales and distribution operation in Dublin. It is also foreseen that the company will downsize its UK distribution site.

According to a company statement released yesterday, the job losses and closures form part of a "survival plan".

"Due to the continuing rising costs of manufacturing in Ireland and the decline in profitability in the cable industry throughout Europe, Irish Driver-Harris finds it necessary to re-evaluate its business, as it can no longer absorb the heavy losses it has incurred since mid-2000," it said.