Expectations are mounting that more than 1,200 Waterford Crystal production staff at its plants at Kilbarry in Waterford City and Dungarvan could be put on short time following a meeting between company management and trade union representatives yesterday afternoon.
It is believed that the company will announce new working arrangements to the workforce later this week and the likely outcome is believed to be the introduction of short-time working as the company seeks to scale back on production and cut costs.
Initial speculation in Dungarvan was that the company might be considering cutting staff numbers at the local plant where 360 of the 400 workforce are involved in glass production, but The Irish Times understands that jobs cuts at either plant are not planned at this stage.
Fears for jobs at the Dungarvan plant have been fuelled in recent days by the company's failure to carry out a major refurbishment of the plant's furnace, which takes place every few years and is due to take place now at a cost of up to €3 million.
"People are concerned that it's a sign that the company doesn't intend investing in the plant and people are worried about their future," said one source close to the workforce in the plant.
Yesterday, senior management, led by Waterford Crystal chief executive officer Mr John Foley, met a team of ATGWU officials but both sides were remaining tight-lipped about the talks in advance of informing workers of the proposals.
A Waterford Crystal spokesman refused to be drawn yesterday on suggestions that the company was considering introducing short-time working or the more drastic step of jobs cuts.
Adding to workers' concern is that Waterford Crystal is hugely dependent on the North American market, which accounts for about 70 per cent of sales. However, the dollar's weakness against the euro has hit sales.
According to the workforce source, staff are concerned that the reduction in demand for Waterford Crystal in the US has led to a stockpiling of crystal products which could have repercussions for the company's manufacturing operations.
