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08/11/2001
Waterford Crystal job losses confirmed as inevitable
It has emerged that it will be impossible to save any of the 1,400 jobs set to go at Waterford Crystal factories throughout Ireland and the UK.
The redundancies, set to be implemented as part of a policy of strategic restructuring, will affect around 100 staff at the company’s plants in Waterford and Dungarvin, the cut-back represents around 16 per cent of the company’s workforce in Ireland. A further 500 jobs are to go at the Stourbridge plant in mainland Britain, where nationwide operations are to be consolidated into one location.
The restructuring programme will also see the closure of 65 concessions, to be replaced by ten redesigned stand-alone stores in strategic locations, with investment into the US market to be increased.
Speaking about the news, Chief Executive of Waterford Wedgwood, Redmond O’Donaghue, said that the company had fallen victim to the global recession currently occurring after the attack on the World Trade Centre.
Mr O’Donaghue added that, in his experience, the situation was “unprecedented” and that he could also not rule out further cutbacks in either the UK or Ireland as a result of the company’s poor economic performance. (CL)
The redundancies, set to be implemented as part of a policy of strategic restructuring, will affect around 100 staff at the company’s plants in Waterford and Dungarvin, the cut-back represents around 16 per cent of the company’s workforce in Ireland. A further 500 jobs are to go at the Stourbridge plant in mainland Britain, where nationwide operations are to be consolidated into one location.
The restructuring programme will also see the closure of 65 concessions, to be replaced by ten redesigned stand-alone stores in strategic locations, with investment into the US market to be increased.
Speaking about the news, Chief Executive of Waterford Wedgwood, Redmond O’Donaghue, said that the company had fallen victim to the global recession currently occurring after the attack on the World Trade Centre.
Mr O’Donaghue added that, in his experience, the situation was “unprecedented” and that he could also not rule out further cutbacks in either the UK or Ireland as a result of the company’s poor economic performance. (CL)
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Large Scale Job Losses Is 'Major Blow'
Enterprise Minister Arlene Foster said today that the potential large-scale job losses announced by FG Wilson is a major blow to the Northern Ireland economy. The Minister said: "This is devastating news for the hundreds of families who will be affected, particularly when so many people are already struggling in this difficult economic climate.
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