Gerry Madden says that the company he runs is haemorrhaging cash.
Transdev’s managing director has called for an end to the long-running series of Luas strikes that have crippled Dublin’s public transport system.
The company’s drivers continue to impose frequent work stoppages in a dispute over pay, and Gerry Madden says that Transdev’s financial outlook is ‘pretty grim.’
Sick pay for workers involved in the industrial action has been suspended, with Transdev claiming the absence rate for drivers is now at an unsustainable 12%.
“Our financial situation is pretty grim,” said Madden.
“We’re haemorrhaging cash and we’ve got a situation where every 1% increase in absence causes the company €100k.
“We financially plan for four to four-and-a-half per cent sick, and we’re now at 12%.
“Perhaps more importantly for me is where you have a significant amount of drivers not turning up for work, and you’re under a work-to-rule, then that starts to impact on customer service, and that’s really, from my perspective – they’ve suffered enough already.”
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