Coughlan and unions to discuss Waterford pensions

The Tánaiste Mary Coughlan is due to meet trade unions representing workers at Waterford Wedgwood this afternoon.

The meeting has been arranged to discuss the pension scheme at the company following the news last week that its Irish and UK operations have gone into receivership and administration.

Concerns have been raised about pension scheme in light of the current economic climate and the value of Waterford shares.

The Pensions Ombudsman, Paul Kenny, has described the current scheme as "technically insolvent" and has warned that many workers will not receive their full entitlements.

Meanwhile, the administrators of Waterford Wedgwood's UK operations have confirmed that 367 jobs are being shed at the firm's Staffordshire facility.