Sigh of relief for Cork as 142 jobs are saved

A decision to cut 142 jobs from a Cork-based medical firm last year has been reversed. The US-owned Stryker Ireland Ltd has cancelled its restructuring programme “following the review of the [company’s] operations and the winning of a new business contract”. The restructuring programme announced in May of last year was to be implemented this year and completed in 2013.

However, cancellation of the programme is confirmed in new accounts by Stryker Ireland Ltd that show that pretax profits increased by 101 million from €124.2 million to €250.4 million. Revenues increased by 46 million from €351.7 million to €515 million in the 12 months to the end of December last (2011).

According to the directors’ report, “the company had strong growth in the period under review, with an increase in sales of €46 million, reflecting the impact of the operations acquired from Benoist Girard SAS, a related Stryker entity, in late 2010”. They added: “Margins have increased on the prior year and profit before tax significantly increased on 2010.” Stryker operates two plants in Ireland, one at Carrigtwohill in Cork and an orthopaedics plant at Raheen Business Park in Limerick.

Ken Murphy

(Director) BE (Hons), CPIM – Cork Office

Ken Murphy graduated from University College Cork in 1987 with an Electrical Engineering degree before moving to the US as a Network Design Engineer with BellSouth Corporation. His return to Ireland in 1989 heralded a career which concentrated on the multinational sector, and involved working with companies such as Apple Computer, Cabletron, FMC Automotive, Moog, General Semiconductor and Technicolor.

Ken is a specialist in quality management, purchasing, logistics and supply chain management. He has significant expertise and experience in managing the changing demands of the global media, electronics and automotive sectors at operational and project management levels.

Ken leads CareerWise Recruitment’s Cork operations. He has served on local and national committees of IPICS (The Supply Chain Management Institute), CIPD, the Cork Electronics Industry Association (CEIA), and has completed a three-year term as Chair of the UCC Alumni Board.

Ken has recently been elected as a Director of the Cork Chamber for a four year term to help promote business and drive policy objectives for the Cork Region

Tags: