The company was established as a power tool assembly operation in Dublin in 1990. Its parent company announced on 25 February 2000 that, due to a global restructuring of the company, it is reducing the size of the Dublin company from 184 to 68 people. The reduction of the workforce has arisen as a result of severe overcapacity within the group which operates plants in Japan, China, Singapore and Malaysia, as well as Ireland.
The company's decision was arrived at following several meetings with IDA Ireland where it became apparent that these jobs could not be rescued. The proposed reduction will take place over the period April to August 2000. The company will relocate from its existing premises of 120,000 square foot to a smaller 50,000 square foot factory and IDA Ireland is assisting the company in identifying suitable factory premises.
In light of the current demand for experienced workers in the greater Dublin area, including Clonshaugh, it is expected that the employees who are made redundant should not find it unduly difficult to secure new positions. It is understood that approximately six companies in the area and a number of employment agencies have contacted the company regarding the availability of employees. In addition, FÁS is available to assist the company and its workers in identifying and meeting particular training needs.
IDA Ireland has been informed that the company has offered a voluntary redundancy package covering 92 employees and that 95 applications have been received. A further 14 compulsory redundancies are scheduled. Also, a small number of further job losses will occur which will bring the total to 116.
In so far as the State agencies under the aegis of my Department are concerned, I have been informed that the company has received employment grants of £780,000 and R&D grants of £156,114 from IDA Ireland. IDA Ireland has commenced the process to recover grant liabilities due on foot of these redundancies.
