Stent
Bad news on the jobs front for Tipperary, with the Johnson & Johnson manufacturing plant at Cahir Road, Cashel, announcing the loss of 133 employees, through plant closure. The jobs of a further 90 part-time contract workers are also affected.
Staff were informed of the Companie’s plans at a meeting held just today.
The decision comes following the Cordis Corporation, a Johnson & Johnson company, deciding it would now stop manufacturing its Cypher Drug Coated Heart Stents, by the end of 2011, and also to end their development of a new model.
Mr David Kinahan, General Manager, stated that the decision taken by the company was in no way a reflection on the dedication and hard work of everyone employed at their Cashel plant.
Spokesman for Johnson & Johnson, Mr Bryan Mohally, stated that the company remained committed to Ireland, promising to explore alternatives for the Cashel site and also to make every effort to help those who may be affected by these job losses, in terms of redeployment within the Johnson & Johnson family of companies.
It is understood that this Cordis Corporation closure is part of a restructuring plan, that will cut up to 1,000 jobs worldwide, with similar closures planned at factories, in Puerto Rico, and San German.
The company is understood to have lost trading ground to Abbott Laboratories and Boston Scientific in the estimated $4 billion annual global market for heart stents.
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