Pfizer situation demonstrates our extreme vulnerability - Morgan
Sinn Féin Employment and Enterprise spokesperson Arthur Morgan TD, commenting on the news that Pfizer is to cut 65 jobs at one of it’s plants in Cork and is to sell off two others putting a further 480 jobs at risk, said that these development were yet further evidence of the vulnerability that results from over dependence on foreign multinationals. He warned that Government policy must change and focus on the development of indigenous enterprises.
The Louth TD said: “The situation at Pfizer, like the recent developments at Motorola, is particularly worrying. This demonstrates the inherent danger of the over-dependence on foreign multinationals. The Government has no strategy to reduce this by developing indigenous enterprises. It has pinned it’s aspirations for the future of the economy on maintaining a low tax regime which is attractive to foreign, and in particular US, multinationals.
“It has disregarded the fact that this dependence leaves the state particularly vulnerable in the event of global economic downturns and other factors beyond our control. We are now experiencing job losses as result of restructuring by large multinationals – just imagine how much worse things could get in the event of a wider recession. Hundreds of jobs are lost as a result of decisions taken in boardrooms on the other side of the world. These companies have no loyalty to their Irish workers.
“The Government must proactively plan for possible future developments in the economy, including specifically planning for the future of the workers. There are cases when it is evident that an industry is in decline and when the Government must take pre-emptive action to lessen the impact of expected job losses.
“I am calling on the Minister to initiate an assessment of sectors and geographic regions likely to experience job losses in the next five years and start planning now for the development of alternative indigenous enterprises to replace such jobs.
“Specific funding should be put in place to upskill and re-train the workers who are likely to be effected in advance of this happening. Sinn Féin is calling for redundancy entitlements for workers to be increased to a minimum of four weeks pay per years of service to protect workers who lose their jobs.”