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08/09/2009
Talks At Teva Begin After Layoff Announcement
Talks will begin today at the Teva Pharmaceuticals plant in Co Waterford after a host of job cuts were announced.
Workers were heard last Friday the company would cease within 12 months with the loss of 315 jobs.
Management at the company, which produces tablets and inhalers, say the jobs will go to Eastern Europe, where production costs are much cheaper.
It is believed the jobs will be relocated from Ireland to cheaper sites in eastern Europe or Israel.
The strength of pharmaceutical companies has boosted Irish exports this year, while contributing greatly to the previous economic development of the State.
The sector is a source of optimism for Ireland to emerge from its recession, which is currently one of the deepest in the developed world.
If many more pharmaceutical companies begin to leave Ireland in search of cheaper labour, it could become a major blow to Irelands recovery prospects.
Teva Pharmaceuticals have three facilities on the IDA industrial estate in Waterford, currently employing over 700 people.
Other manufacturers such as Dell also announced thousands of redundancies elsewhere in Ireland this year blaming high costs.
(DW/GK)
Workers were heard last Friday the company would cease within 12 months with the loss of 315 jobs.
Management at the company, which produces tablets and inhalers, say the jobs will go to Eastern Europe, where production costs are much cheaper.
It is believed the jobs will be relocated from Ireland to cheaper sites in eastern Europe or Israel.
The strength of pharmaceutical companies has boosted Irish exports this year, while contributing greatly to the previous economic development of the State.
The sector is a source of optimism for Ireland to emerge from its recession, which is currently one of the deepest in the developed world.
If many more pharmaceutical companies begin to leave Ireland in search of cheaper labour, it could become a major blow to Irelands recovery prospects.
Teva Pharmaceuticals have three facilities on the IDA industrial estate in Waterford, currently employing over 700 people.
Other manufacturers such as Dell also announced thousands of redundancies elsewhere in Ireland this year blaming high costs.
(DW/GK)
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