First it was FCI in Fermoy and then it was Motorola in Mahon that were announcing they were reducing operations, now we have Pfizer (www.pfizer.ie) announcing lay-offs. Today they have stated that 65 staff are being left go from their main plant in Ringaskiddy, Co. Cork. And there are plans to sell of their plant in Loughbeg and part of its operation in Little Island. This threatens a further 480 jobs.
The closures follow a fall in the company’s global profits resulting from the failure of its latest drug in clinical tests.
Times seem to be hard for businesses in Ireland. So the totals of announced job losses in the last 3 weeks is 1,400 of these 900 of them are from the Cork region alone. Many are no longer lured by the attractive offers from the IDA or the low corporation tax, and they see that operations in emerging European markets like Poland and Hungry or even further afield are the way to go.