Cartamundi, the Belgian game maker behind the iconic board game Monopoly, has announced that it will be shutting down its plant in Waterford, Ireland, putting 234 employees out of work. This decision is part of the company’s broader restructuring plan aimed at streamlining its operations and improving its efficiency. The news has come as a blow to the local community and highlights the challenges that companies face in an increasingly competitive market. In this article, we will take a closer look at the reasons behind the closure and its potential impact on the region.
Belgian board game company Cartamundi has announced the closure of its Waterford manufacturing plant and the loss of 234 jobs due to “structural overcapacity and reduced demand for board games globally post Covid”. The company, which produces Monopoly and Twister, will consult with workers, unions, and state agencies as it shuts down the facility. Cartamundi has been headquartered in Waterford since 1977, acquired by Hasbro in 1984, then taken over by Cartamundi 11 years later. Despite revenues climbing from €60m in 2020 to €62.4m in 2021, and profits of €2.9m after tax, the company has been losing money for several months.
It is a sad reality that companies have to make difficult decisions in order to remain profitable. However, for the 234 employees affected by Cartamundi’s decision to close its Waterford plant, the impact is far more personal. Our thoughts go out to those who will be facing job losses and uncertainty, and we hope that they are able to find new and fulfilling opportunities soon. While we can’t change the outcome of this situation, we can continue to support the local businesses and communities impacted by this closure. The legacy of Cartamundi’s presence in Waterford may be coming to an end, but the spirit of resilience and determination that has always characterized this region will endure.
