Staff at Bausch and Lomb in Waterford will meet with union representatives this morning to discuss the latest plan to save the company.
A document by the Labour Relations Commission proposes a pay cut of 7.5% - instead of 20% put forward by the company.
They are also still seeking 200 redundancies from the 1100 stong workforce.
SIPTU will ballot its members on the latest plan before next Tuesday.
Alan O' Leary from the union says workers need time to think about their options, but they are aware of the alternative:
Staff are also due to meet with local politicans to discuss the latest proposals from the company.
There were mixed emotions outside Bausch and Lomb last night as workers left a meeting with SIPTU.
The cost-saving measures put forward are said to include:
- an extra working hour per week
- a reduction in sick leave entitlements, down from 10 weeks to 3.
- and a loss of annual bonus which amounts to roughly 4% of salary.
This man has worked with the contact lens manufacturer for 26 years and says it's a huge blow to take:
Bausch and Lomb say if an agreement can be reached - it will remain committed to Waterford and consider investment in developing the plant in the future.
