Honeywell blames costs for cuts in Waterford

11 Mar 2003

Sixty-three jobs are to be lost at a factory on an IDA industrial estate in Waterford.

The US multinational Honeywell, which makes parts for the airline industry, is making the redundancies in its application software division in Waterford.

Honeywell has confirmed to that it is relocating its software operations to India because of a high-cost base in Ireland. In a statement, the company says the move was also necessitated by the “global economic environment”.

“Honeywell is constantly evaluating all options to remain competitive and today’s announcement is based on customers’ concerns about the higher costs in Ireland. Our priority is to find solutions that are in the best interests of our shareholders, customers and employees…Honeywell remains committed to its Irish operation, which employs more than 800 staff,” the statement adds.

A spokesman for IDA Ireland describes the news as “regrettable” and “unfortunate”. “IDA Ireland is very disappointed,” he adds.

The Tánaiste and Minister for Enterprise, Trade and Employment, Mary Harney TD, describes the news as “very, very disappointing for Waterford and for the workers who have lost their jobs, but we have to recognise that this is a result of the internal re-organisation of Honeywell.”

By Lisa Deeney