This evening Waterford Crystal (www.waterford.com) representatives have confirmed that they have plans to lay off 490 workers at their plant in Kilbarry, Co Waterford. Worldwide there could be up to 1000 layoffs. They plan to outsource some of the jobs, stating that they are currently uncompetitive in the market. This leaves just 510 workers at the plant, and they will concentrate on the more lucrative higher end and cost competitive products.
Chief executive, John Foley said that the job losses were “regrettable”. The reasons for the lay offs were blamed on the poor dollar/euro rate and the higher operating costs in Ireland. A big proportion of Waterford Crystal’s sales go to the US, and with the revenue from these markets falling 30% in the last year, these markets are no longer as lucrative as before. So it’s a sad day for those in the South East.