€2.1m restructuring costs hit Celestica

RESTRUCTURING costs totalling €2.1m relating to a Canadian-owned firm reducing almost half of its workforce contributed to it going into the red last year.

Accounts just filed by the Galway-based Celestica Ireland Ltd show it recorded a pre-tax loss of €2.1m, with the directors citing the restructuring costs and writing off of bad debts as the reason behind the loss.

In 2009, Celestica’s workforce at its Ballybrit plant reduced by 48%, or 169, to 185, and the company confirms its revenues reduced by 40% from €23.4m to €14.1m to the end of December last.