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.

18 October 2018
UUP Peer Slams DUP Brexit Actions
A UUP peer has hit out at the DUP for their "strategic blunder" which made the much-discussed backstop to keep Northern Ireland in the Customs Union and Single Market a central part of Brexit negotiations.
12 April 2018
Sinn Féin's 'Respect' Comments Contradicted By Their Actions
DUP Deputy Leader Nigel Dodds has said that Sinn Féin's "respect" comments are contradicted by their actions. Deputy Dodds said that the party's continued disrespect for the victims of violence contradict comments about respect, equality and power sharing.
14 August 2019
Warning As NI Firm Scammed Out Of £49k
Local companies are reminded to be vigilant and always protect their bank details after a business in County L'Derry was defrauded out of approximately £49,000 through email interception. Mandate fraud, the term given to scams which see an organisation fooled into changing a direct debit payment, appears to be on the rise in Northern Ireland.
14 June 2018
Six Manufacturing Firms To Create Over 40 Jobs In NI
Six manufacturing firms are to create over 40 new jobs in Northern Ireland. Big Picture Joinery, Mango Bikes, Amphora NDT, Carey Cleaning Machines Ltd, Gault Engineering and Premier Protective Coatings Ltd have created the posts to help increase turnover and export sales. Invest NI has offered £261,000 of support towards the 41 new jobs.
11 June 2018
Pharmaceutical Manufacturing Firm To Create 14 New Jobs
A pharmaceutical manufacturing firm in L'Derry is to create 14 new jobs. iMed said the roles include managerial, specialist and manufacturing positions. Almost half of the posts are already in place. The investment is being supported by Invest NI. The new jobs will contribute £350,000 annually in additional salaries to the local economy.