Sad day for Waterford?

gscully

Just read a text saying that the receiver will be closing Waterford Crystal within the hour.

If true, how very sad.

BIRDCAGE1

It looks like their still in discussions to find a new investor, so hopefully it will work out for them.
http://www.herald.ie/breaking-news/national-news/business/waterford-crystal-union-reps-to-meet-potential-investor-1619442.html

gscully

BIRDCAGE1 wrote: »

It looks like their still in discussions to find a new investor, so hopefully it will work out for them.
http://www.herald.ie/breaking-news/national-news/business/waterford-crystal-union-reps-to-meet-potential-investor-1619442.html

Confirmed by a worker that it's all over...for now anyway.

There's a train of thought that closing the factory now and handing out the statutory redundancies will allow a buyer to open up from scratch, and possibly with no union involvement. Let's face it, it's an employer's market now!

mike65

Liabilites are the enemy right now.

somebaldyfela

Confirmed on wlr.

gobo99

apparently the workers have all left and are in the car park.
sad day, for Waterford and the whole region.

jaxy999

One of the lad's here says aswell that if the don't keep the furnace fired up, it'll cost a fortune to put it back into action, I believe the last few workers there now will have no pensions but anyone already left the co. , there's are secure. Tis tough for anyone paying into a pension with 30 years (or did the glass pay it all) and at the end of it all no money.

kilkennycat2004

Very sad day for Waterford.

Hopefully at least the visitors centre part of the operation can be salvaged.

The entire Waterford tourist industry is massively dependant on it.

meldrew

This is a black day for Waterford , the workers are occupying the visitors centre at the moment , they're in a desperate situation and deserve better than to be treated like this

gobo99

Was on RTE news there. Tensions are running high, there's been a few minor scuffles.

nkay1985

Yeah it's definitely heating up down there. Oppupying the visitor's centre demanding to meet with the receiver. Some security firm from Dublin did the dirty work seemingly.

mike65

Between who? edit I presume security and the workers (are the WP in the thick of it?)

jaxy999

It's does not sound so good either in this current climate when you hear that bausch & lomb are putting workers on short time. There's 1400 staff. That's alot. I'd bet the management in the US or where-ever they're based will be going through their costs with a fine tooth comb.

nkay1985

mike65 wrote: »

Between who? edit I presume security and the workers (are the WP in the thick of it?)

It seems that the security crowd tried to close it quietly but sure all the workers live around the place so rushed down to stop them doing that. I think the scuffle took place at the door of the visitor centre. Security crowd were trying to lock it up but were pushed back by the workers. Door broken.

WP??? Do you mean Worker's Party?

jaxy999 wrote: »

It's does not sound so good either in this current climate when you hear that bausch & lomb are putting workers on short time. There's 1400 staff. That's alot. I'd bet the management in the US or where-ever they're based will be going through their costs with a fine tooth comb.

Tell me about it. That's where I am at the moment!

There's a lot of feeling that they are just stalling on making the big decisions - be it redundancies os closure. It's taking 3 grand out of our pockets. Lots of people just can't deal with that.

RxQueen

kilkennycat2004 wrote: »

Very sad day for Waterford.

Hopefully at least the visitors centre part of the operation can be salvaged.

The entire Waterford tourist industry is massively dependant on it.

heard the they visitor centre isnt going to be in operation eihter, but hopefully its just hear'say

jaxy999 wrote: »

It's does not sound so good either in this current climate when you hear that bausch & lomb are putting workers on short time. There's 1400 staff. That's alot. I'd bet the management in the US or where-ever they're based will be going through their costs with a fine tooth comb.

and isnt hasbro doing the same?? and snowcream is closing also...

im gone on 3 days a week to, Waterford has taken a major hit tbh

Professey Chin

emo!! wrote: »

im gone on 3 days a week to, Waterford has taken a major hit tbh

It was always goin to. Its been basically ignored by government during boom years, they were hardly gonna change when recession hit.

Whos up for some looting?

mike65

WP is Workers Party, as for the rest, is anyone surprised? Every major employer will be cutting back. Listening to the news yesterday it sounded like B&L were decided on taking one week in four off without pay. Beats a P45.

Raskolnikov

mike65 wrote: »

WP is Workers Party, as for the rest, is anyone surprised? Every major employer will be cutting back. Listening to the news yesterday it sounded like B&L were decided on taking one week in four off without pay. Beats a P45.

Why are you taking a swipe at the Workers Party? No one else seems to care that these people are being let go. A lot of whom, have given most of their lives to the company in expectation they will be provided for in retirement. Now that their pensions and jobs are gone, I can't blame them for acting so desperately.

sfmonet

My partner works at B&L and when he told me the news he was more worried about how I would react, since I am a major worrier. All I know is he said B&L were bought out by a German crowd last year or so. There's too much inventory being made and not enough product selling, hence the closure.

What gets me is that for people paying maintenance (our situation) the prior person is throwing a fit because wages have gone down and variations have to be made. Just in our situation, it irkes me that a person can just be on the welfare and use that money to go out drinking and then have a fit when the amount might have to go down because of the loss in pay.

My view is, if you don't like it get off your a*** and get a job. If you have money to drink well then where is the money being spent on the children.

I hope that something does get sorted out for the Crystal's workers.

Sorry to get off topic, I just know that a lot of people are now in this situation and maybe people are just going to have to deal with reality a little bit like all the B&L workers are doing....its called the trickle down effect I believe.

Right now he's just happy that there is still a job. Its to be reviewed again in July.

ltdslipdiff

It is a grey day for the Deise, the weather seems to be fitting for the day thats in it. I don't know the mechanics of the operation, but surely downscaling and/or paycuts could have got them out of trouble?

My sympathies to anyone involved or effected (who's not in Waterford I suppose?)

I hope there's light at the end of the tunnel !

Cabaal

Waterford Crystal has been on the rocks for years, anyone I knew who worked in it got out ages ago for that very reason as they knew it was a sinking ship.

Yes its very sad but its hardly something nobody saw coming.

Cabaal

http://www.rte.ie/news/2009/0130/wedgwood.html

Staff protest over Waterford Crystal closure
Friday, 30 January 2009 16:55

There have been angry scenes at the Waterford Crystal plant in Kilbarry after staff were told the company is shutting down.

At least 300 Waterford Crystal employees are refusing to leave the visitors' gallery at the factory and have started an unofficial sit in.

The employees say they will not be leaving until they meet with the receiver.
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There were some scuffles at one point and a main door to the centre was broken.

A spokesperson for the receiver, David Carson of Deloitte, said that efforts were continuing to find a buyer for the company. It is understood a statement by Mr Carson will be issued shortly.

Walter Cullen of trade union UNITE confirmed that he had been informed by the receiver that the company is to close.

Production at the factory stopped this afternoon and staff had been told to 'expect bad news'.

Waterford Crystal has been in receivership for the past four weeks and efforts to find a buyer have so far been unsuccessful.

Local Sinn Féin Councillor Joe Kelly, who is one of those currently occupying the visitors' gallery, said the receiver had told staff he would not close the company while there were interested investors.

'Today he has gone back on his word', he said.

nkay1985

Raskolnikov wrote: »

Why are you taking a swipe at the Workers Party? No one else seems to care that these people are being let go. A lot of whom, have given most of their lives to the company in expectation they will be provided for in retirement. Now that their pensions and jobs are gone, I can't blame them for acting so desperately.

Yeah, that's not true. Everybody cares. And my dad Joe Kelly, who's a Sinn Fein councillor is actually in the visitor centre so.....

It's an awful time. My dad is there 37 years. What's the reward for all those years of service? Someone trying to close the plant without informing anybody. Disgraceful carry on.

mike65

Soz for getting a bit political, I just suspected WP would'nt be slow getting involved regardless of the "help" they can provide.

Sully

Manufacturing at the flagship Waterford Crystal plant in Kilbarry, Co Waterford is to cease, it has been confirmed today.

The move, which includes the closure of the visitors' centre, will result in 480 redundancies.

However, the receiver David Carson has stated that operations may resume in the future if a suitable buyer for the company is found.

"The receiver of Waterford Wedgwood plc, Mr David Carson of Deloitte, wrote today to staff at Waterford Crystal and Cash's Mail Order, informing them that manufacturing will cease with immediate effect at Kilbarry, Co Waterford," said an official statement from the receiver.

"As a consequence, approximately 480 employees have been made redundant. The visitors' centre in Waterford will also close.

"The decision to cease manufacturing does not necessarily preclude a resumption of operations in Waterford in the future.

"The receiver is continuing negotiations with interested parties with a view to a sale of the company's assets and those discussions are focused on agreeing the terms upon which a transaction could be completed."

An estimated 150 Waterford Crystal staff have been holding a sit-in at the plant today, insisting on a meeting with the receiver.

It is understood that minor scuffles have broken out between workers and security staff as tensions rise in the building.

Soruce: http://breakingnews.ie/ireland/mhsnqlauaucw/

ahyeah

sfmonet wrote: »

My view is, if you don't like it get off your a*** and get a job. If you have money to drink well then where is the money being spent on the children.

Hardly that simple these days is it? If it was this thread wouldn't even be happening would it?
****ing sick of people on Boards telling unemployed people to get off their arses etc. I've spent the last 6 months looking for a job and I can tell you for a fact, it's not as simple as you seem to think.:mad:

On topic, it's a disgrace that workers with 20 or even 30 years service can be let go without even a pension and you see the massive pay offs CEO's etc are getting. No golden handshakes for the ordinary workers.

nkay1985

This looks like a new development to me.


Former CEO to bid for Waterford Crystal
A new offer to buy Waterford Crystal and keep the plant and visitor centre open will be made by a former chief executive of the company.
John Foley told RTÉ News he has joined a US-based consortium that will make a new bid for the company.
Mr Foley, who stood down as CEO of Waterford Crystal after it went into receivership, said the bid was backed by US investment group Clarion Capital.
He said the group believed it could secure ten-year supply and price agreements for Waterford Crystal products.
Also involved in the consortium is Peter Cameron, who is a former CEO of Waterford Wedgwood.
Mr Foley said it was essential that manufacturing was continued at Waterford and the group planned to make an offer for Waterford Crystal in the short term to the receiver.


http://www.rte.ie/news/2009/0130/wedgwood.html

mike65

Just listening to RTE news, looks like a deal is in the offing involving John Foley, the finance would come from private trustees. You can be sure any deal will see the government pony up for the outstanding liability or a large part thereof.

Raskolnikov

Martin Cullen says that there's a good possibility that Clarion Capital will be willing to takeover Waterford Crystal and retain manufacturing in Waterford.

sfmonet

ahyeah wrote: »

Hardly that simple these days is it? If it was this thread wouldn't even be happening would it?
****ing sick of people on Boards telling unemployed people to get off their arses etc. I've spent the last 6 months looking for a job and I can tell you for a fact, it's not as simple as you seem to think.:mad:

Sorry, but I felt that I needed to respond to this. I specifically indicated in my post "our situation". Its great that you have made efforts to look for a job, I am more than aware how hard it is. But I have not sympathy for my partners ex who works for 6 weeks and then quits because it cuts into her drinking time. I believe I was very clear that it was in respect to our situation and was not generalizing except for the fact that I am sick of people who refuse to work just so they can drink, etc.

Again this is in respect to OUR SITUATION!

I am a bit ****ing sick of that, its called mooching. You don't sound like you have that problem!

Now back onto topic...

Tellox

Hopefully something gets sorted out very soon - I can't see the staff leaving before they know their jobs are safe!

And hopefully the canteen staff are also in there to keep them fed.. if not,I'd say the poor folks are starving