The TEEU last night joined their SIPTU colleagues at the Waterford plant in accepting a cost savings plan which will see pay cuts and changes to terms of employment for remaining staff. SIPTU workers voted to accept the package on Monday.
200 people will still lose their jobs under the plans.
The deal will see workers take a pay cut of 7.5% as well as accepting other changes to their terms of employment.
In a statement this morning, the IDA says the company has committed to invest in Waterford and it will support management and staff into the future.
It was feared that the plant, which employs 1,100 people, would be closed down if agreement was not reached.
Minister Richard Bruton says the workers have made a brave decision.
“This was an extremely difficult position for workers to find themselves in, and I appreciate the approach that they have taken” he said.
“I'm now confident that we can build for the future – as you know the government has committed investment to support the future development of Bausch and Lomb”.
“Now there's the opportunity to bring new technologies, new product lines to Waterford” he added.
