Teva begins consultation process at Waterford site
Teva Waterford recorded an increase in pre-tax profit to €13.3m last year
20 workers at Teva's Waterford facility risk being made redundant by the pharmaceutical company.
In a statement issued to media, Teva, who employ 650 workers in Waterford, said: “Teva can confirm that we have initiated a consultation process at our Waterford site following changes in our business needs.”
“We are engaging closely with employee representatives, and those potentially impacted, and are committed to conducting this process responsibly and transparently with our colleagues.”
It’s understood that there are approximately 22 jobs at risk, with the majority of lay-offs likely to take place in Teva’s office. A smaller portion of the floor staff is expected to be impacted.
Workers on temporary contracts are also expected to be directly impacted.
SIPTU’s Manufacturing Divisional Organiser Neil McGowan has said that 19 union members are in direct consultation with Teva over their future prospects.
Teva is an Israeli multinational, best known in Ireland for its production of Sudocrem. Their Waterford offices are based in the IDA Industrial Estate on Cork Road.
Teva’s Irish arm, trading as Norton Ltd, recorded a 31% increase in pre-tax profits to €13.3m and last year paid out dividends of €617.9m.
Revenue in Waterford decreased by 8% to €435m, while the firm’s operating losses increased almost fivefold to €71m.
Waterford’s two Sinn Féin TDs issued statements following the consultancy announcements.
“SIPTU has initiated the statutory consultation process and we urge management to engage constructively with union representatives,” said Deputy David Cullinane.
“We will remain in contact with workers and their representatives and will do everything possible to support the protection of jobs at the Waterford facility.”
Deputy Conor McGuinness said: “Workers deserve clarity and fair treatment.
“It is difficult to ignore that the company recently reported increased pre tax profits at its Waterford operations. In that context, every alternative to job losses must be fully explored.”
In 2025, Teva announced that it planned to reduce its 30,000-strong global workforce by 8% for 2027.
Chief financial officer, Eli Kalif told analysts that the company intended to slim down their production sites. The company currently owns 49 manufacturing sites globally, along with 22 research and development facilities.
