Restructuring events
European Restructuring Monitor (ERM)
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.
The city of Waterford's biggest private sector employer, contact lense manufacturer Bausch & Lomb, has announced 195 redundancies. Furthermore, staff remaining at the plant are to remain on short-time working for the foreseeable future. The company intends to achieve the redundancies on a voluntary basis but that might be difficult in the current bleak economic climate. Negotiations over redundancy packages were due to be negotiated with trade unions.
The company has attributed the redundancies to a requirement to "balance manufacturing capacity with demand for products made in Ireland due to changes in the product mix in its portfolio".
Eurofound (2009), Bausch and Lomb, Internal restructuring in Ireland, factsheet number 68475, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68475.