IDA give 10 million investment to GSK in 2012, now the money has gone so will GSK.

Piedom

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#1
Back in 2012 the Irish state through the IDA gave GlaxoSmithKline a €10 million euro investment after GSK announced it was to close back in 2012.

Fast forward 6 years and guess what, GSK is about to close its doors again with the loss of 165 jobs.

Now the interesting thing here is, if you take the average industrial wage of €40,000 and times it by 165 people that equates to 6.6 Million.

So we are left to wonder, did GSK run off with 3.4 Million Euro's or have they been paying huge sums of money to people at the plant?


GLAXOSMITHKLINE HAS ANNOUNCED that it is set to close its manufacturing plant in Sligo by 2021, with 165 jobs set to be lost.

Workers at the Stiefel Laboratories site, which manufactures skincare products, were told today of the plans to close the site.

In a statement, GSK said that while the Sligo plant had delivered “significant improvements in cost and efficiency” in recent years, demand for the products made on the site had not grown in line with expectations.

It said a number of alternatives had been considered for the site, but “none of them were considered feasible without significant further investment”.

Blow for Sligo as 165 jobs to go at GSK manufacturing site
 

Tessa

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#2
Yet again another kick in the hole for the west of Ireland, Dublin I see continues to boom whilst the rest of Ireland still plays catchup.
10 Million down the drain, just like with Dell.

Someone in the IDA needs to have a long hard look at themselves sanctioning payouts for multinationals who take the money and run a few years later.
 

Tadhg Gaelach

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#3
The Dublin Régime has no belief in the ability of the Irish people to do anything. They think Ireland's only hope is to keep attracting US Multinationals. There is literally no Plan B to that.
 

GodsDog

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#4
Well we really shouldn't expect moral behaviour from the likes of GlaxoSmithKline should we!!

GlaxoSmithKline Agrees to Pay $3 Billion in Fraud Settlement

Drug giant GlaxoSmithKline fined €45 million

GlaxoSmithKline | Violation Tracker

The fact that our governments seem so willing to jump into bed with organisations like this
giving them millions of taxpayers money rather than supporting indigenous small businesses who provide
most of the employment in Ireland when so much damning evidence is just a click away speaks volumes
 

Tadhg Gaelach

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#5
Well we really shouldn't expect moral behaviour from the likes of GlaxoSmithKline should we!!

GlaxoSmithKline Agrees to Pay $3 Billion in Fraud Settlement

Drug giant GlaxoSmithKline fined €45 million

GlaxoSmithKline | Violation Tracker

The fact that our governments seem so willing to jump into bed with organisations like this
giving them millions of taxpayers money rather than supporting indigenous small businesses who provide
most of the employment in Ireland when so much damning evidence is just a click away speaks volumes

Small businesses are having a terrible time in Ireland at the moment. Banks don't want to know them, and there is little or no venture capital available to them.
 
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#6
The AIW may be 40k, but pharma pays way more and the fully loaded costs would be typically 1.4 times base salary. Not sure what the headcount split there is with respect to production operatives, QA, engineering etc, but the 10m should never be viewed as a payroll subsidy.
 
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