Looking back at October 1992, 30 years ago, the top note in the magazine was entitled Recession Hits Out.
The note continues quite simply: “Times are getting tight everywhere. Monaghan paid off 50 workers and lots of people took pay cuts straight across the board.”
It certainly shows how the recession at that time was biting.
As we head into an uncertain winter and choppy economic waters it does pay to cast an eye back at how things were.
Back then the scourge of currency fluctuations was also affecting the industry. Stalker noted that in that month the “Irish Government introduced a headage payment for firms engaged in exporting which were affected by the currency fluctuations.”
