merrion street

My first thoughts are with the workers at Bausch & Lomb and their families as they face an extremely difficult and uncertain situation today (Thursday).

I note that the company has stated that its clear preference is to keep the Waterford plant open. I also note that a similar restructuring process in the past year at one of its other plants internationally resulted in the plant remaining open and receiving investment from the company to position it for future expansion.

I along with my Department and IDA have been engaging with Bausch & Lomb for several months on these issues, in an effort to secure as many jobs as possible for Waterford. The Department and IDA have proposals ready for substantial financial support for a major investment in the plant by the company, in order to secure its future and position it for expansion, in the event that restructuring is successful.

All the supports of the State will be made available to any workers affected by redundancy.

Furthermore, the industrial relations bodies of the State stand ready to assist the two sides to reach agreement on a restructuring plan, if required. I urge both sides to engage constructively in discussions in order to secure the future of the plant in Waterford and position it for future investment.

While we have seen much positive news on the jobs front in recent days, weeks and months, today’s news is a reminder we must fight continually to remain competitive, to win new investment and jobs and also to maintain the ones we have.