Element Six lays off 370 employees at its Ireland branch

Element Six has laid off 370 of its employees in Ireland, and close down its manufacturing and distribution at the Shannon site. Although the company would retain 80 employees in research, administrative and customer support.

The company considers its Irish branch to be the most expensive in the world, and hence decided to lay off its staff, reports say. Also, the company is unable to sustain business activities in Ireland. This act of the company has caused concern of job security in the region, as manufacturing has been affected with the global economic downfall.