Minister for Jobs Richard Bruton has welcomed news that the Bausch & Lomb facility in Waterford is to remain open after employees voted in favour of a controversial cost-cutting deal.
Up to 200 redundancies along with pay cuts are set to be implemented by the southeast’s largest private employer Bausch & Lomb after a second union voted on Tuesday to accept the plan.
Members of the TEEU voted by 68 to 23 to pass a range of measures drawn up by management at Bausch & Lomb. The result follows a vote by SIPTU members on Monday which also approved the plan. The company makes soft contact lenses and lens care products.
TEEU regional secretary Paddy Kavanagh said, following confirmation of the result, that the cuts to pay and conditions arising from the company's proposals are "particularly harsh" but that the alternative - closure of the plant and the loss of over 1,100 jobs was "unthinkable".
In a statement issued on Wednesday, Mr Bruton admitted that the workers had been faced with a difficult choice but welcomed their decision to vote in favour of the deal.
He said that Bausch & Lomb was committed to investing in the future of the Waterford plant in order to put in new technologies and attract new product lines.
Bausch and Lomb also welcomed approval of the cost-cutting proposals.
"I would like to express our gratitude to all employees for their support, and to their union representatives for the robust and constructive way in which they negotiated with us.As we stated at the outset we needed to realise these savings in order to make the Waterford plant competitive and to position it for future growth. We will invest further in this facility. Our preference was always to keep the plant open, and this vote allows us to do that, said chief executive and chairman of Valeant Pharmaceuticals, Michael Pearson.
The IDA also welcomed the news that the company would remain in Waterford city.
"IDA Ireland recognises the substantial efforts made by staff to safeguard the future of the plant," said the organisation's chief executive Barry O'Leary.
“Bausch and 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,” he added.
