Batt O’Keefe, Ireland’s Minister for Enterprise, Trade, and Innovation, is to meet with multinationals operating in Ireland after Pfizer yesterday announced devastating job cuts which saw over 700 jobs being slashed across the country. The pharmaceutical giant is to close operations in Loughbeg and Shanbally in Cork and in Dun Laoghaire in Dublin – along with reducing services in Newbridge in Kildare.
The Minister said that the government is working to drive down the costs of operating here for multinationals so as to continue to encourage inward investment to the Irish economy. IDA Ireland, the IPA for one of the world’s leading and most internationalised economies, has been highly successful in attracting foreign direct investment for more than 40 years. In the last 10 years the country has relied heavily on reinvestment and gradual movement up the global corporate value chain.
