Jameson Workers to Receive €4,700 Cash Payment Amid Profit Share Scheme Changes

Around 250 employees at Irish Distillers, the makers of renowned Jameson whiskey, are set to receive an annual cash payment of €4,700. This payment is intended to compensate workers for any potential losses resulting from changes to the company’s profit share scheme.

The decision follows a Labor Court recommendation that upheld Irish Distillers’ proposal for the cash payment to employees across various grades. The dispute resolution process involved Irish Distillers and the Connect trade union, who were negotiating the terms of the profit share, reward, and benefits scheme.

New Employees Excluded from Compensation

Labor Court deputy chairwoman Louise O’Donnell ruled that the €4,700 compensation is specifically aimed at existing staff who may encounter financial losses due to the profit share scheme alterations. She stated that there is no basis for extending this payment to new employees who join the company after the recommendation’s implementation date.

Irish Distillers maintained its stance against extending the payment to new staff, asserting that the existing proposal is a fair offer for all employees.

Details of the Revised Profit Share Scheme

Irish Distillers agreed to increase the upside element of the profit sharing scheme from €150 to €175 for every 1% achievement in global net sales. However, this upside payment will only apply to a maximum of 3% overachievement in any given year.

Connect, the trade union representing the workers, had initially sought a higher upside value of €300 per 1% achievement in global net sales based on the company’s original November 2022 proposal. While acknowledging this difference, Ms. O’Donnell endorsed the Irish Distillers’ revised offer as part of the Labor Court recommendation.

Other Benefits Included in the Agreement

The Labor Court recommendation also incorporates several other benefits agreed upon by a working group, including an annual health benefit allowance of €1,300 and improvements to holiday benefits. These changes involve increasing the minimum holiday entitlement by three days from the date of joining and a final entitlement of 27 days after 10 years of service.

Stay Connected with The Irish Times for More Business News

Stay up-to-date on the latest business news and insights. Sign up for our Business Today newsletter, opt-in for Business push alerts, join our WhatsApp community, and tune into our weekly Inside Business podcast.