Cost reductions cited as reason for possible Sligo job losses

A Sligo company says the need for cost reductions following ‘significant losses’ is the reason why it may have to cut up to 25 jobs.

ProTek Medical, based in Finisklin in Sligo, says there will also have to be improvements in efficiency throughout the plant.

The likely job losses, announced just before St Patrick’s Day, are the latest that are continuing to hit Sligo for some time now.

ProTek Medical designs and manufactures devices and parts for the medical, biotech and pharmaceutical industries.

It employs 166 people in Sligo.

In May 2015 it was acquired by the Molex Company, which operates 50 manufacturing locations in 17 countries.

At that time, Frank Boyle, founder and CEO of ProTek Medical Ltd, said the acquisition presented new opportunities to achieve faster growth by expanding into new regions and healthcare market segments.

However, significant loses, current sales and ProTek’s financial position, mean it must restructure its operations in Sligo to restore the company to profitability.

It is feared that, as a result of this, up to 25 jobs could be affected, subject to a 30-day consultation period with employee representatives.

Meanwhile, Molex sites in Letterkenny and Shannon are not affected.

This latest announcement follows that of Elanco Animal Health in January 2016 that it was to close its Sligo operations with the loss of 100 jobs.

There have also been a series of recent smaller-scale business closures and job losses in Sligo.

Among them the Velvet Rooms, the Body Shop, A Casa Mia restaurant and others.

And there are reports that with more businesses struggling, further closures could be on the way.