P.M. BRIEFING : Waterford Workers Reject Plan

DUBLIN, Ireland —  Workers at Waterford Crystal PLC rejected a drastic cost-cutting plan after a group led by Tony O’Reilly, Irish-born chairman of U.S. food giant H. J. Heinz, proposed a big investment in the crystal and china company.

The rejection came late Monday, just hours after industry sources revealed that O’Reilly was heading a group of overseas investors negotiating to buy 29.9% of Waterford Wedgwood for more than $100 million.

More than half of Waterford’s 2,000 employees attended the angry union meeting Monday night which threw out management demands for longer working hours, lower bonuses and a reduction in contract staff as a way to establish profitability again. The latest management demands came just six months after the unions agreed to a three-year wage freeze.