Waterford Crystal Collapsing???

Subject: Waterford Crystal Collapsing???
From: GUEST
Date: 04 May 05 - 02:23 PM

Today the news broke that Waterford crystal are closing their Dungarvan plant with the loss of 400 jobs, and a further 100 redudancies possible in the main factory in the city.
Living in the area i know what a MASSIVE impact this is going to have on the local enonomy, especially in Dungarvan, Having seen the knock on effects when the working hours were cut due to 9/11, sending 4 to 5 hundred people to the dole office, is going to be horrendus,

Workers seem to vent their anger into the bad managment and organisation channels, However prior to this, I personally wondered about the welfare of the company. Last year, they sold off one of the staff car parks to Aldi, and not so long ago, they had land around the Glass sports and leisure centre, re-zoned by the city councill for commercial use, no doubt for future sale or tenure. Do these not point to an underlying finacial problem? if so why was more not done earlier to save what is, one of Irelands greatest exports.

To The Glassworkers of Dungarvan & Waterford city, my thoughts are with you and your families. May your future,although doubtfull at present, be a peacefull and secure one.

Subject: RE: Waterford Crystal Collapsing???
From: George Papavgeris
Date: 04 May 05 - 02:26 PM

Very sad. Could you explain however why there were job cuts due to 9/11? I can't imagine a possible link - sounds like an excuse to me, and an early sign of trouble.

Subject: RE: Waterford Crystal Collapsing???
From: Alba
Date: 04 May 05 - 02:45 PM

Sad news indeed for Dungarvan and Waterford.
There is an article here: Waterford Crystal laying off Workers!

I too would like to understand how the events of 9-11 have impacted or contributed to this happening?
Thanks for any info.
Jude

Subject: RE: Waterford Crystal Collapsing???
From: GUEST,Toenails John
Date: 04 May 05 - 02:45 PM

Sorry forgot to insert name in initial post.

To answer your question 9/11 had a big impact on americans traveling, and as they are a huge customer base, they lost an awfull lot of income, and so forth cut hours. I'll just explain the knock on effect

9/11 happened, glassworkers hours were cut as a result of lost revenue, and I was at that time working in a warehouse that delivered catalouge goods door to door, reps with rounds and so on. That Christmas was the biggest ever for returned goods and cancelled orders, most of which were from glassworkers homes, who were having to manage their money, as a direct result, our reps were down on their income.... see how it goes

Subject: RE: Waterford Crystal Collapsing???
From: Alba
Date: 04 May 05 - 02:53 PM

Ah John. I see.
The terrible shape of the Dollar as well must be having a huge impact on travel to Ireland from the US and Sales must be taking a huge hit too!
Really sad News.
Best Wishes.                                    
Jude

Subject: RE: Waterford Crystal Collapsing???
From: The Curator
Date: 04 May 05 - 02:57 PM

Compared to others such as Tyrone Crystal, Waterford is expensive.

Subject: RE: Waterford Crystal Collapsing???
From: Don(Wyziwyg)T
Date: 04 May 05 - 06:16 PM

You get what you pay for tho', superior quality is rare these days.

DT

Subject: RE: Waterford Crystal Collapsing???
From: GUEST,Toenails john
Date: 05 May 05 - 01:45 PM

Have to agree Don. To a degree Waterford crystal are entitled to be expensive, as they are a world famous name,
No offence to smaller, and no doubt very good local crystal companies, (of which there are many) They simply would go out of buisness themselves if they were to sell a relatively unknown brand, at the same price as a world famous one. This goes across the board, not just crystal. Think of those, um, reputable traders selling half price, er, designer clothes.....

Tj

Subject: RE: Waterford Crystal Collapsing???
From: GUEST,MMario
Date: 05 May 05 - 02:21 PM

too bad the oppisete isn't true - that big name companies NOT put hugely exaggerated prices on lesser works depending primarily on their reputation and "name" to sell at prices that better quality items cannot sell for.

Subject: RE: Waterford Crystal Collapsing???
From: GUEST
Date: 05 May 05 - 02:26 PM

It's actually more complicated than it first appears. Waterford was having difficulties keeping their market share before 9/11, because there has been a lot of competition, especially from the former Eastern Bloc countries, in the crystal market. While some cheaper crystal is shoddy, much of it is of good to high quality--as good as Waterford--but it was being sold on the world market to undercut Waterford and the other big names internationally to gain market share.

Waterford's largest export market is the US, so the recession (which started before 9/11) had an effect, and then 9/11, another hit. I don't know that any management team would have had any better luck, considering the changes in the global crystal market in the past 10-15 years.