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Monday 4 December 2023 Dublin: 2°C
Photocall Ireland The Bausch & Lomb plant in Waterford
rescue plan

IDA promises to help Bausch & Lomb as workers vote for massive cuts

The company has thanked workers for approving the plan to dramatically cut spending at the contact lens plant.

IDA IRELAND HAS promised to help the Bausch and Lomb factory in Waterford after workers voted in favour of massive cuts in order to keep the plant open.

The agency, which is responsible for industrial development in Ireland, said it will work with the contact lens company on plans to invest in new technology at the plant and secure jobs.

Barry O’Leary, the head of the IDA, said that they recognised “the substantial efforts made by staff to safeguard the future of the plant”.

The company last night thanked workers for approving the plan to dramatically cut spending at the plant following negotiations between unions and management.

Staff at the contact lens manufacturer accepted the proposals that will see 200 staff lose their job along with a pay cut for the remaining workforce.The agreement will see a 7.5 per cent reduction in basic pay, the elimination of some bonuses, an extra hour in work per week, and a reduction in the sick pay scheme.

Unions said that the proposals were very difficult for members to accept but management said they were necessary to secure the future of the plant.

“Bausch & Lomb have committed to invest in Waterford and IDA Ireland will support the company and staff in those endeavours in order to safeguard substantial employment in the south-east region,” said Barry O’Leary.

Read: Bausch and Lomb express gratitude to workers for voting in favour of cost cutting measures > 

Read: Bausch and Lomb staff vote in favour of cost cutting measures > 

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