Honeywell Transportation Systems is seeking 50 voluntary redundancies at its Waterford plant, in addition to the 15 redundancies announced just three weeks ago.
Staff were informed of the job losses at a special meeting held on Friday afternoon last and management say they are working with workers’ representatives on a settlement package.
“Due to a major industry technology shift from Cast Compressor Wheels to Fully Machined Compressor Wheels (FMCW), customers’ demand for cast wheels currently being manufactured in the Waterford plant has dropped significantly and is expected to continue,” read a company statement. “Our (Waterford) plant does not have the technology to produce FMCW.”
The statement added: “After a strategic review of its operations, the company has engaged in discussions with employee representatives on a proposed voluntary redundancy programme for 50 positions in addition to 15 voluntary redundancies previously announced as an interim measure.
“As part of this plan and in order to secure the site’s long-term competitiveness, the site is also planning to make a significant investment to position the site as a Global Centre of Excellence and Research & Development for the manufacture of Turbo-Charger Wheels, including investment in new Turbine Wheel Casting technology and insourcing opportunities. The voluntary redundancy programme will not affect other Honeywell entities in Ireland.” The cuts will not affect Honeywell’s other operations in Cork and Dublin.
Sister company in Waterford, Honeywell Process Solutions (previously known as Measurex), closed last year with the loss of 27 full-time jobs, following a number of other job losses at the factory in the preceding years.
Waterford TD John Halligan said the “upsetting news represents another blow to Waterford which is certainly still waiting to reap the full benefits of the much feted recovery”.