Stryker Ireland Ltd Reverses Plan to Cut 142 Jobs
11/12/2012 9:03:32 AM
A Cork-based medical firm that last year announced it was to cut 142 jobs has reversed its decision. The US-owned Stryker Ireland Ltd cancelled the restructuring programme "following the review of the company’s operations and the winning of a new business contract". The restructuring programme announced in May 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 pre-tax profits increased by 101%, from €124.2m to €250.4m. This followed revenues increasing by 46%, from €351.7m to €515m, in the 12 months to the end of December last. According to the directors’ report, "the company had strong growth in the period under review, with an increase in sales of 46%, reflecting the impact of the operations acquired from Benoist Girard SAS, a related Stryker entity in late 2010".