Waterford Crystal workers have been told that that Bank of America, which effectively owns the company, is willing to give €10m to be shared out amongst 800 current and former employees.
Many workers attending a mass meeting of employees this evening described the offer as derisory and insulting. Some said the offer amounts to around €12,000 per person.
The meeting also heard that New York based private equity firm KPS is the front runner to buy Waterford Wedgwood, but that the maximum numbers of jobs it is guaranteeing at present is 120, with another 120 on rolling six-month contracts. Before Christmas, there were close to 800 people working at the Kilbarry facility.
Union representatives said talks on the continuation of some stemware glass production in Waterford wee continuing. Unions say the Government must also deliver on pension deals with staff and former staff.
The meeting voted to continue the occupation of the site and to allow union representatives three to four days to come up with a formula for payments to employees and those made redundant recently.
