Waterford Wedgwood has cut its losses by €69.2m to €188.9m, a move which the company says signals its progress back to profitability.

MANAGEMENT and unions at Waterford Crystal have denied a local newspaper claim that up to 500 jobs are to go at its plant in Kilbarry on the edge of Waterford city.

WATERFORD Wedgwood’s top management team has been granted share options worth almost €16.5 million.

WATERFORD Wedgwood's nightmare year has continued with first half sales and profits sliding further.

UNION officials at Waterford Crystal have described as “outrageous and obscene” the bonuses paid to seven executives at a time when the company was axing 485 jobs in Dungarvan.

SEVEN executives in Waterford Wedgwood pocketed €10.2 million in salaries and bonuses last year while close to 2,000 staff got the axe worldwide - including 500 people in Waterford.

INCOMING Waterford Wedgwood chief executive Peter Cameron has splashed out €780,000 on shares in the troubled group.

Waterford Wedgwood group CEO Redmond O'Donoghue is to retire from his position.

WATERFORD WEDGWOOD'S woes continued yesterday as the luxury goods group reported rocketing pre-tax losses of €149 million for the year to March.

THE pain continued for Waterford Wedgwood shareholders yesterday as the luxury goods group reported grim first-half figures.

SENIOR management at troubled luxury goods firm Waterford Wedgwood saw their pay fall by 15%.

WATERFORD Wedgwood yesterday switched control of the company’s US operations to Ireland following the unexpected retirement of the chief executive and president of Waterford Wedgwood USA, Christopher J McGillivary.

A WEAKER dollar and lower demand for luxury goods were to blame for pre-tax losses of €45 million at Waterford Wedgwood, the company said yesterday.