Molex has announced it will be closing its Shannon facility by the end of 2020, subject to an employee consultation process resulting in the loss of 500 jobs.

This closure will take place in a series of phases, the first beginning in early 2020. The news follows a review of the product lines manufactured at the Shannon facility which has been in operation since 1971.

In a statement to The Clare Echo, a spokesperson for the US multinational outlined, “As a leading supplier to the dynamic global electronics marketplace, Molex continually evaluates market demand and adjusts our operations to align our resources with that demand. Having a market competitive cost structure is critical for building a sustainable business”.

500 employees are to be impacted by the decision. “The majority of products made at the Shannon facility have insufficient financial returns and growth potential. Therefore, these products will either be exited or divested, with any remaining products transferred to other Molex facilities. The impact of this decision will regrettably result in the closure of the facility impacting up to 500 employees.

“Announcing our intention to close this facility is very difficult due to its impact on our employees, and the deep ties Molex has with the region and its people having operated in Shannon since 1971. The decision in no way reflects on our Shannon employees, who have made an invaluable contribution to our business over many years.We are now focusing our efforts on engaging with our employees following this difficult announcement and that includes a comprehensive programme of supports to help them with the transition ahead”.

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If you’re here, you care about County Clare. So do we. Did you rely on us for Covid-19 updates, follow our election coverage, or visit The Clare Echo every week for breaking news and sport? The Clare Echo invests in local journalism and we want to safeguard its future in our county. By becoming a subscriber you are supporting what we do, will receive access to all our premium articles and a better experience, while helping us improve our offering to you. Subscribe to clareecho.ie and get the first six months for just €3 a month (less than 75c per week), and thereafter €8 per month. Cancel anytime, limited time offer. T&Cs Apply. www.clareecho.ie.

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