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News : Irish Last Updated: Apr 24, 2009 - 5:31:05 PM


US electronics firm Tyco Sensormatic to move 320 jobs from Cork to low-cost overseas location
By Finfacts Team
Sep 25, 2008 - 9:46:53 AM

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Tyco Sensormatic's Digital Floor-Max II - - The system’s thin detection antenna is designed for installation below the surface of the floor. The antenna can be installed in most floor types including concrete, wood, and others and is outdoor rated. The Digital Floor-Max II System is an especially popular anti-shoplifting system for mall stores where aesthetics and performance are primary requirements.

US electronics firm Tyco Sensormatic in Cork, has confirmed today that 320 jobs are being moved from Ireland to a low-cost location overseas.

Tyco Sensormatic, which is based in Bishopstown, in the western suburbs of Cork City  outlines news of the job losses at an 11 am meeting Thursday.

Earlier this week, it was confirmed another Cork-based company Swissco was planning to close with the loss of 150 jobs.

Tyco Sensormatic's head office in Bermuda had announced a review of manufacturing in its safety products division and the Cork plant produces electronic anti-theft tags that are attached to merchandise in stores.

The Cork facility used to employ 475 people before scaling down operations in 2005.

Tyco International, which is listed on the New York stock Exchange, is a diversified, global company that is a provider of security products and services, fire protection and detection products and services, valves and controls, and other industrial products. Tyco had 2007 revenues of more than $18 billion and has 118,000 employees worldwide.

Former Tyco International CEO Dennis Kozlowski and finance chief Mark Swartz were sentenced in 2005 to up to 25 years, for looting hundreds of millions of dollars from the company.

Fine Gael TD Deirdre Clune said that the job losses again raised the question of Ireland's competitiveness.

 

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