Jobs axe falls at Cork plant

Up to 160 jobs could be lost in Youghal in Cork after Artesyn Technologies announced a series of global "cost reduction initiatives".

As part of the move, the company's manufacturing facility in Cork will closed, as well as additional headcount reductions elsewhere. When fully implemented, these and other actions are designed to produce approximately $35 million in annual cost savings.

The Youghal, Ireland facility is primarily engaged in manufacturing power supplies for the telecommunications market. Closure of the facility is expected to be complete by September 2003, with affected production moved to the company's lower-cost manufacturing locations in Hungary and China. Approximately 160 employees will be impacted by this action.

The company says it will continue to maintain an engineering and customer support centre in Ireland to support the sale and design of products for the telecommunications market.

Included in these initiatives is a streamlining of the company's commercial, manufacturing and administrative staff functions globally. Artesyn will have approximately 4,300 employees remaining.

"Since the beginning of the market slowdown, we have implemented a series of initiatives to improve the financial and competitive position of the company," said Artesyn's President and CEO, Joseph M. O'Donnell.

"These actions are the next step in that process, as we shift our focus from a cash strategy to a cash and break-even focus. Our objective is to ensure that Artesyn is well positioned to benefit from the rebound in our end-markets.

"We believe these actions are some of the final building blocks in helping us reach this goal," continued O'Donnell. "

Artesyn Technologies, headquartered in Boca Raton, Florida, is a leading provider of advanced power conversion equipment and real-time subsystems to the communications industry.


Related Northern Ireland News Stories
Click here for the latest headlines.

28 November 2019
NI Man Charged With Drug Smuggling In Dublin
A Northern Irish man has appeared in court in Dublinon a charge of drug smuggling. The 28 year-old was arrested after revenue officers seized approximately 1kg of suspected MDMA, worth an estimated €60,000, at Dublin Airport.
02 December 2019
Intruder Disturbed In Co Fermanagh Home
Occupants of a house in the border village of Belleeks, Co Fermanagh returned to find an intruder in their home over the weekend. The burglary was foiled on Saturday evening, 30 November and police are appealing for witnesses.
02 December 2003
US pharmaceutical company to invest £5m in new Carrick plant
A leading US pharmaceutical company is to invest over £5 million to set up a manufacturing facility in Carrickfergus, it was announced today. The investment by Kiel Laboratories Inc is expected to create up to 100 jobs over the next three years.
22 October 2002
140 jobs under threat at Banbridge factory
One hundred and forty jobs are under threat in Banbridge after the FII Group revealed it is to close its footwear manufacturing facility in the town. The Northampton based company said it was no longer possible to produce footwear competitively at the plant.
20 June 2013
CDEnviro Manufacturing Facility Opens
Enterprise Minister Arlene Foster has officially opened a new manufacturing facility at CDEnviro, following a £2.7million expansion by the Cookstown firm. CDEnviro manufactures a range of equipment for the sewage and waste water treatment industries.