Waterford Wedgewood cuts 1,400 jobs

Waterford Wedgewood, which produces ceramics and luxury goods, said today that it is to cut up to 1,400 jobs because of a big drop in consumer demand.

The Irish group said it had been hit by the global economic downturn with the fall exacerbated by the 11 September terrorist attacks in the United States.

Most of the cuts will be Britain, the company announced, including 500 jobs at Wedgewood production factories around Stoke–on–Trent, 220 jobs at its crystal manufacturing plant in Stourbridge and 400 retail and administrative positions. Another 100 jobs will go from the company's glass operations at Waterford in Ireland.

There will also be job cuts in Germany, Australia, Japan and the United States. The company employs around 10,000 people, half of them in Britain and Ireland.

Chief executive Redmond O'Donoghue said he hoped most cuts will be made through attrition, early retirement and voluntary redundancies, but compulsory lay offs could not be ruled out.

The company said the cuts were vital to underpin long–term profitability for the group.