Pharmaceutical company Roche announces its plans to close its plant in Clarecastle by March 2020. Already in a phased shutdown, the site has a workforce of 132 employees, who are planned to be made redundant by June 2020. According to reports, the company set aside €24 million to fund redundancy packages for employees, who are likely to receive €180,000 each on average.
The decision is the result of the difficulty in finding a buyer for the site. Moreover, the company recorded pre-tax losses amounting to €1.7 million in 2018, with an 11% decrease in revenues.