The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Other Non-Metallic Mineral Products 23 - Manufacture of other non-metallic mineral products
1,800 jobs Number of planned job losses
Announcement Date
4 May 2005
Employment effect (start)
Foreseen end date
Description
Fine crystal and china maker Waterford Wedgwood has said it is to cut 1,800 jobs as part of a €90 million (£61 million) global restructuring. The cuts include 485 posts at the Waterford Crystal plant in Dungarvan, Ireland, which is to close. As well as the closure of the Dungarvan plant, other jobs set to go include 160 at its Rosenthal division in Germany. The majority of the posts are expected to be shed in the UK and Ireland, with job cuts expected too at the firm's flagship plant in Waterford city.
Last year Waterford Wedgwood bought UK bone china maker Royal Doulton, a move which it said would boost the competitiveness of both companies and lead to cost savings. Chairman Sir Anthony O'Reilly said ‘These changes are vital to ensure the long term prosperity of this historic company and its key heritage plants in Ireland, England and Germany as we face increasing competition from low cost economies in Asia and elsewhere.'
Sources
5 May 2005: The Guardian
4 May 2005: BBC News
Citation
Eurofound (2005), Waterford Wedgwood, Internal restructuring in European Union, factsheet number 61521, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61521.
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