 However at the end of June 2009 the company had accumulated losses of €93 million and Chairman Colm Barrington confirmed this situation could not continue.In October 2009, newly appointed Chief Executive Christoph Mueller announced a radical cost-cutting plan that would lead to the loss of 676 jobs at the company and see pay and pension reductions for those being retained.The total plan aimed to achieve savings of €97 million between then and 2011.