The chief executive of Waterford Wedgwood has confirmed that there will be significant job losses at the Waterford glass plant as a result of restructuring.

There has been speculation in recent weeks that 500 workers at the plant would lose their jobs.

Speaking at the company's interim results, chief executive Peter Cameron said employment levels could not be sustained at their current levels but he said the company remained committed to manufacturing in Waterford.

Earlier this morning Waterford Wedgwood reported a pre-tax loss of €57.5m for the six months to the end of September. This compares to a loss of €20.7m reported the same time last year.

The company said its sales for the six months were down 7.1% to €317.4m.