DUBLIN - Waterford Crystal, a glittering icon of Ireland, said yesterday it will lay off most of its Irish workforce and move its factory production overseas after losing a six-year battle to boost sales, cut costs, and control debts.
It didn't say where the work was going but the company has contracted much of its production to a manufacturer in Slovenia. At its height, Waterford Crystal employed 3,200 people in Ireland at two plants but in 2002 began a rapid fall into debt. Its smaller plant shut down three years ago as executives began subcontracting production to plants as far away as Brazil.
Don't do it, Ireland!
Take it from an AmeriKan, you wanna keep MANUFACTURING JOBS!!!!
Waterford's ability to produce profitably in Ireland has been shattered by rising competition from Eastern Europe, changing consumer tastes that increasingly viewed crystal as an impractical anachronism, and perhaps above all by chronic weakness of the US dollar.
Americans traditionally have accounted for half of Waterford Crystal purchases - and until now, Waterford chiefs have sought to defend the company's Irish roots in fear that shifting to Slovenia, Poland, or elsewhere might alienate the Irish-American base.
The image always matters -- until the $$$ comes into play!
The labor union that represents Waterford workers, Unite, called an emergency meeting for last night and vowed to fight the plans. Unite representative Walter Cullen said all of Waterford was in shock - and dismissed the management's explanations as dishonest. --more--"
