September 7
Teva cuts 315 jobs in Waterford
Workers at Teva, one of the biggest pharmaceutical factories in Waterford, were told by management this morning that 315 jobs are to go at the plant.
The plant manufactures inhalers and tablets. It is understood that tablet production will cease at the factory within 12 months.
Teva is one of the biggest pharmaceutical employers in the south-east and this morning staff gathered at the company’s facilities on the IDA industrial estate in Waterford for a meeting senior management.
Teva employs a total of 730 workers. Staff had only been told about the meeting yesterday, and those in the tablet-making section in particular were worried.
The redundancies will be a mixture of voluntary and compulsory and details of redundancy packages have not yet been released.
In a statement released today, the firm said it took the decision ‘due to the challenges of operating in a high cost and difficult economic environment in Ireland.’
It is understood much of the manufacturing of tablets currently being made here will be transferred to a factory the company has in Hungary.