Waterford Crystal confirmed today that it has informed employees at its Kilbarry plant that it is to seek 280 redundancies.
The company told employees at a general meeting that it intends to maintain production in Waterford and that it remains committed to the retention of its intellectual property in Ireland.
Chief executive John Foley said: “We regret the necessity of rending large scale manufacturing in Waterford, but we reaffirm our commitment to the city.”
“We will retain highly skilled workers, our Tourist Trail, as well as our gallery staff who together service one of Ireland’s premier visitor attractions,” he said.
The company plans to make 280 workers redundant under the plan. This is in addition to the restructuring programme announced last November under which 490 employees are to leave the company.
Waterford's Fine Gael Senator Paudie Coffey said the job losses would be a "devastating blow" to the families, and the company's importance to the local economy could not be overestimated.
"The announcement of job losses at Waterford Crystal will be met with total devastation by company employees and their families as they struggle to make ends meet at this extremely difficult time," he said.
"Speculation is rife that the outsourcing of production to companies in Europe and Asia may begin next year and this is further exacerbating employees' fears. If this becomes a reality Waterford Crystal will become yet another Irish company added to the already extensive list of companies that have gone to the wall as a result of Ireland's failing competitiveness."