Business

Staff told of number of job losses at Denis O'Brien fuel group

Topaz operates a string of forecourts across Ireland
Topaz operates a string of forecourts across Ireland Topaz operates a string of forecourts across Ireland

AN energy company owned by Ireland's richest man is laying off depot-based staff north of the border.

Topaz Energy distributes home heating fuel and operates a chain of forecourt retailers.

Ireland's largest petrol retailer - it has annual turnover around €3 billion (£2.1bn) - it employs around 1,500 across the island and around 40 at five depots in the north.

However, the Irish News has learned a number of workers in Northern Ireland have been told their jobs have only a month left to run. Several more staff in the Republic are also to go.

One worker who called the Irish News yesterday claimed: "We were called in last Wednesday and told we had 30 days notice.

"I have a mortgage to pay and three wee ones. We were told we could transfer to Dublin, but who realistically could travel there every day?"

Dublin-headquartered Topaz Energy Group last year posted pre-tax losses of €4.7 million (£3.3m) for the year to March 31 2014 compared to losses of €13.6m (£9.6m) the previous.

It has turnover at around €3 billion (£2.1bn) a year. Its Northern Ireland subsidiary meanwhile made £75,000 on £149m turnover.

A spokesman for Topaz confirmed the company was "in the process of centralising a number of back office and sales functions in its Local Fuels Home Heating business".

“Regrettably the centralisation will result in redundancies that affect 13 people in Northern Ireland and 11 in the Republic of Ireland. Full support will be provided to these employees," he said.

The spokesman added that Topaz would be increasing its employee numbers at its Dublin-based centralised operation over the coming year.

The group is owned by media billionaire Denis O'Brien who took the business over in 2013. The 57-year-old Cork man is said to have a net worth of €6.7bn (£4.3bn).

He formed media group Communicorp which operates stations such as Newstalk, Today FM and Dublin's 98.

He is also a 29.9 per cent shareholder in Independent News & Media which owns the Belfast Telegraph and Irish Independent newspapers.

Topaz announced in 2014 that it would be taking over control of the Esso brand in Ireland, with the process expected to complete before the end of this year.