Pharmaceutical to lay off 200 workers in Waterford

Another foreign multinational has announced plans to lay off hundreds of workers in Munster.

Sanofi-Aventis told staff in Waterford this morning that it was planning to close its factory at the end of the year.

The company says formal consultations with employees will begin immediately.

Sanofi-Aventis says the closure is being proposed to help it remain competitive in the global pharmaceutical marketplace.