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SIPTU representatives are in negotiations with management at the Teva pharmaceutical plant in Waterford, Ireland, following the company’s announcement of potential redundancies. The move could affect up to 19 union members, according to a statement released by SIPTU Manufacturing Divisional Organiser, Neil McGowan, on Thursday.
“The company has recently announced its intention to implement a number of redundancies at the plant,” McGowan stated. “This is expected to impact the positions of up to 19 SIPTU members. Union representatives have begun the statutory period of consultation with management on this proposal. As always, SIPTU will aim to protect the jobs of our members and ensure they are adequately represented in this situation.”
Teva Pharmaceuticals is one of the largest employers in the Waterford City and the wider south east region, with approximately 700 employees at the Waterford site, according to reporting from RTÉ. The company produces both prescription and over-the-counter medications.
A spokesperson for Teva confirmed the initiation of a “consultation process” at the Waterford facility, citing “changes in our business needs.” The spokesperson added that the company is “engaging closely with employee representatives, and those potentially impacted, and are committed to conducting this process responsibly and transparently with our colleagues.”
Recent financial reports indicate a complex picture for the Irish arm of Teva. While pretax profits increased by 31% to €13.30 million, revenues declined by 8% to €435 million, according to accounts for Norton (Waterford) Ltd. Last year, the company paid out dividends of €617.9 million to its parent company, headquartered in Tel Aviv, Israel.
The potential redundancies come amid separate labor concerns in the region, with lecturers at the Waterford Institute of Technology (now South East Technological University, or SETU) planning a protest over working conditions, as reported by RTÉ.
Consultation between SIPTU and Teva management is ongoing.