Abbott's in Sligo - Rumours that a major rationalisation plan is currently being thrashed out between local management and HQ back in the U.S. Up to 20% redundancies mentioned. Abbotts are the biggest employer in Sligo.
Approx. 750 - 1000 jobs both direct and indirectly attributed to them.
Even heard this evening about a local auctioneer who has laid off 3 staff members. Can't sell Houses if nobody wants to buy them.
tan Gaucho como el Gaucho
Not quite sure how long AT has been in the workforce but some of us are old enough to remember the 80's and unemployment is not something to be complacent about. The loss of jobs in a company like Boston Scientific will have a knock on effect of up to 3:1 just as when they expand, spinoffs are created, the opposite happens when they contract. Also the spinoffs tend to be well paying unlike house building where the spinoffs are more usually sandwich makers. Hopefully Clonmel will escape as they're about to be hit by Bulmers.
If engineers were wrong as often as economists, would anyone fly aeroplanes?
But we've gone through this before: Seagate, Gateway, Digital, Motorola etc. were seen as irreparable blows to our economy and the labour market has come through it. Unemployment is down from 18% in the 80s to 4.7% now. We would have to see 280,000 job losses to get back to those cripplingly high levels. That doesn't seeems likely, and would have to occur with each and every one of those 280,000 not gaining alternative employment.Originally Posted by wombat
Look at Pfizer, for example. people were wringing their hands at the start of the year with those 480 redundancies, yet look at them now, announcing 500 jobs.
There was also 700 jobs announced by BNY Mellon a few weeks ago and there was barely a mention of that.
Private profit for public gain!
All of these plants were huge losses to the people who lost their jobs. The problem with statistics is they give an overall picture and can be misleading. If 200 jobs are lost in Sligo in a medical device company, there will be at least another 200 lost in companies providing services to the plant, this has a huge impact locally. Statistically, these jobs can be replaced by 500 jobs in a call centre in Dublin, giving a net gain of 100, so everything is fine. Unfortunately, we seem to be losing more well paying jobs lately and this is worrying. Regarding Pfizer's 500 jobs, they must be counting construction jobs as €500million won't lead to 500 jobs in a biotech operation.
If engineers were wrong as often as economists, would anyone fly aeroplanes?
Talking to an insider on Pfizer today - they bought a small ( on their scale) factory beside there main one and are closing down the satellites, This is a part of the consolidation of the company worldwide. The guys at the top a good payoff - the lowest figure mentioned is 100,000 plus 2/3 pension.
However more worrying for me is the fact that two local small builders have paid of all their brickies - is this an indication of the real trend. usually the building trade is the first to suffer a turn down.
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Not true, this report makes no reference to construction jobs and yet still runs with 500 number. Amgen were planning 1,100 jobs with a $1 billion investment. pfizer's is $500 million, so the numbers do stack up.
Have you not seen this report? it states:
"Two recruitment companies, CPL and Sigmar, both report continuing strong demand for labour. In the case of CPL, it stated that its main challenge was to source labour to meet client demand and that tightness of supply was evident across all sections of the market from the professions to the non-skilled."
I fully acknowledge the pain, suffering and upset caused to families when somenone loses a job, but, in our present climate, it is quite easy to find another. You just have to look.
Private profit for public gain!
Re read your Pfizer report, 100 jobs are mentioned for 175 mil., the 500mil is a proposal. Great if it comes about, the 175 mil is good news. Regarding CPL/Sigmar, remember they're similar to auctioneers, they have a vested interest in hyping the job scene. My fear is that we will see a cascade effect, I saw it before in the petrochem business in Canada where costs got too high, a major project was cancelled and everyone stopped spending. We are very vulnerable because we are so dependent on foreign investment, I don't believe the sky is about to fall but I see enough early warning signs to believe the downturn will be more severe than the powers that be expect. Regarding the comment "You just have to look", true, but your search may take you far from home.
If engineers were wrong as often as economists, would anyone fly aeroplanes?
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