Waterford Crystal may extend summer closure

Waterford Crystal management and unions are considering an extended summer closure in the hope of avoiding job cuts at its plants in Dungarvan and Waterford city.

Sources within the plant say July's summer closure may be extended by a week, as ATGWU union official Sean Kelly met with staff yesterday.

This comes following year-end balance sheet figures indicating a pension deficit of €162m.

Out-sourcing to low-cost Eastern European countries is among the speculated cost-cutting measures which would mean job cuts both in Ireland and Britain.

In March this year, Waterford Wedgewood would not rule out a return to short-term working for its 1,600 employees.

The war in Iraq had a massive impact on luxury goods markets, especially in the United States, one of the Waterford brand's major markets.