Jobs Saved At Shannon Plant

A rescue plan at the Element Six plant in Co Clare has resulted in the saving of 240 jobs at the facility.

The industrial diamond materials manufacturer announced last month it was to cease manufacturing and distribution operations at the plant with the loss of 370 jobs as part of "major restructuring".

However, the company has now given its backing to a restructuring plan following two days of negotiations in London and at least 240 jobs will now be retained in Shannon as a result.

The company said it hopes all parties can work closely together to agree and implement the plan, which is being supported by the Government through training grants and temporary wage subsidies.

The company had originally blamed the high-cost environment in Ireland, which it said could no longer be sustained.

It is one of the oldest companies in Shannon and was formerly known as DeBeers, a unit of the South African diamonds group.

The news comes as figures emerge showing that more than 17,000 more people signed on the Live Register over the past month, according to the latest figures from the Central Statistics Office (CSO).

The CSO says almost 436,000 people were on the register in July, an increase of 83% over the past 12 months.

(DW/BMcC)