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04/09/2009
Teva Chops 315 Jobs
Workers at one of the biggest pharmaceutical factories in Waterford have been hit with the news that 315 jobs are to go at the plant.
Employees at the Teva plant, which manufactures inhalers and tablets, were called into a meeting at the plant this morning where the news of the lay-offs was broken by management.
It is understood that tablet production will cease at the factory within 12 months with the loss of the jobs.
It is understood 315 out of the 730 strong workforce are being let go.
The firm, formerly known as IVAX and located in the IDA Industrial Estate, makes inhalers and tablets and is among the top 20 pharmaceutical companies and one of the largest generic pharmaceutical firms.
Last year, the company's sales totalled over $11 billion (€7.8 bllion), of which a major portion was in Europe and North America.
After its acquisition of US rival IVAX Corporation in January 2006, the company has about 28,000 employees in 50 countries. Teva's facilities are located in Israel, North America, Europe, and Latin America.
The news of the job losses comes amid a bleak day for jobs around the state. Yesterday, 80 jobs were lost at Morrison Utilities - a telecommunications contractor for Eircom - while 50 posts were cut at Banagher Concrete Company in Offaly.
Another 60 positions are also under threat at An Post in Portlaoise after the firm lost a major contract with a UK catalogue supplier.
(DW/BMcC)
Employees at the Teva plant, which manufactures inhalers and tablets, were called into a meeting at the plant this morning where the news of the lay-offs was broken by management.
It is understood that tablet production will cease at the factory within 12 months with the loss of the jobs.
It is understood 315 out of the 730 strong workforce are being let go.
The firm, formerly known as IVAX and located in the IDA Industrial Estate, makes inhalers and tablets and is among the top 20 pharmaceutical companies and one of the largest generic pharmaceutical firms.
Last year, the company's sales totalled over $11 billion (€7.8 bllion), of which a major portion was in Europe and North America.
After its acquisition of US rival IVAX Corporation in January 2006, the company has about 28,000 employees in 50 countries. Teva's facilities are located in Israel, North America, Europe, and Latin America.
The news of the job losses comes amid a bleak day for jobs around the state. Yesterday, 80 jobs were lost at Morrison Utilities - a telecommunications contractor for Eircom - while 50 posts were cut at Banagher Concrete Company in Offaly.
Another 60 positions are also under threat at An Post in Portlaoise after the firm lost a major contract with a UK catalogue supplier.
(DW/BMcC)
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