Bausch and Lomb: Govt 'cannot subsidise existing jobs'

Negotiations are continuing over the move by Bausch and Lomb in Waterford to cut 200 jobs and impose a pay cut on existing staff.

Unions at the plant have been meeting with management in the hope of agreeing cost savings to minimise the cuts to staff at the plant.

The contact lens manufacturer has been in Waterford for more than 30 years and employs more than 1,000 people.

Yesterday evening a delegation of local TDs and Senators met with company vice president Angelo Conti to express their concerns for the workforce and local economy in Waterford.

After the meeting, Fine Gael TD Paudie Coffey said the Government was still committed to the future of Bausch and Lomb in Ireland.

"We need to not raise expectations unnecessarily," he said. "I can't see the State putting in money to subsidise existing jobs.

"What the State will do is provide capital grants for research and development and training where new jobs are being created, but there's work to be done before we get to that point."