Waterford Wedgwood to cut 1,400 jobs

Irish-based china and glassmaker Waterford Wedgwood said it was cutting 1,400 jobs, mostly in Britain, becoming the latest luxury goods firm to lose its lustre after the 11 September attacks.
The cut…

Irish-based china and glassmaker Waterford Wedgwood said it was cutting 1,400 jobs, mostly in Britain, becoming the latest luxury goods firm to lose its lustre after the 11 September attacks. The cuts represent about 14% of the total workforce. The company said sales for the 10 months to 31 October were 4.5% below 2000 levels. The downturn as a result of the attacks on New York and Washington, US, was severe, the company said, with core sales for September down 15% on last year. Redmond O“Donoghue, the company“s newly appointed chief executive, said most of the job cuts would be made in Britain, some before the end of the year and some “progressively throughout next year”. He said these included 500 jobs at a facility near Stoke-on-Trent, UK, 220 at a crystal plant at Stourbridge in the West Midlands, UK, and 410 from the British retail side. Roughly 100 jobs would be lost in Ireland, 125 in Germany and about 20 in the US, Australia and Japan.