MEP comments on Wright's job losses
24 February 2009
MEP comments on Wright's job losses
"Today's dark news from Wrights is indicative of the deep ramifications of the severe downturn which is afflicting the economy here and across the world. One of the greatest frustrations is that despite having a first class product and reputation, even a company like Wrights is vulnerable. It is imperative that Invest NI and other agencies give maximum help to soften this blow, not just in respect of Wrights but also in regard to the many local supply companies which where the knock-on effect will be severe.
Just a few weeks ago I raised in the European Parliament the need to reform the EU's primary assistance tool, the Globalisation Fund, which can help communities cope with large-scale redundancies. At present its entry threshold is set at 1000 job losses, which might suit the needs of a large national economy, but is far too high to help a regional economy where 250 job losses is huge."
