Waterford Crystal bought by US Company

A U.S. private equity group bought Waterford Crystal and will hire 80-90 employees to work at the factory and visitor center. Waterford Crystal closed after bankruptcy in 2009 and, according to Reuters, 480 workers lost their jobs.

The poignant PBS documentary "Raise the Last Glass" reports that the workers showed up for work one day and found out they had no jobs. The workers occupied the visitor center and 6,000 people marched to protest the factories closure. However in the end the union voted for a settlement in which 840 people divided 10 million euros...$16,000 per person and the worker's no longer had any say in the company.

350,000 tourists used to come to watch the famous crystal being cut and that business supported the town. Now only the highest end luxury crystal will be made in Waterford, and the other manufacturing will be sourced to other companies that partner with the US equity firm.

January 25, 2010, Reuters, Dublin:

"A new crystal factory is to open in Waterford..."

Reuters, Dublin. "Waterford crystal gets its sparkle back." January 25, 2010. http://www.theglobeandmail.com/report-on-business/waterford-crystal-gets-its-sparkle-back/article1443257/

Watch the PBS documentary from 2009 that documents the failed sit-in at Waterford Crystal:


PBS Wide Angle. Produced by Lucy Kennedy. "Raise the Last Glass." June 11, 2009. http://www.pbs.org/wnet/wideangle/episodes/raise-the-last-glass/video/4956/