Waterford Stanley Limited today announced that 33 jobs are to be lost at it's manufacturing plant in Waterford.
In an official statement released today by Waterford Stanley Limited, the company announced: "Regrettably, there will be a 58% reduction in the workforce from 57 to 24, which is expected to affect most areas of the business. It is planned that these changes will take place on a phased basis over five months from October".
It's proposed that due to a "restructuring of business" in the manufacturing of its cast iron heating stoves and cookers, it will no longer operate in Waterford and will be outsourced.
The company declined to comment any further.
Reacting to today's news, Waterford Chamber CEO, Gerald Hurley said: "This is very concerning and a disappointing announcement for Waterford".
TD for Waterford and Chair of the Oireachtas Jobs, Enterprise and Innovation Committee, Mary Butler has described today as a very sad day for Waterford.
Recent figures from the Central Statistics Office show that unemployment in Waterford is currently the highest in the country at 9.4%.
