More Irish IT jobs cut

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More Irish IT jobs cut

The IT sector in Ireland faces another blow as Dublin-based security software company Baltimore Technologies looks set to announce significant job cuts on 22 August.

The announcement will come less than a week after US-based General Semiconductor revealed that it was closing its facility in Macroom, Ireland.

Baltimore Technologies issued a profit warning in July, and said it was preparing a major restructuring plan that would come with significant jobs cuts on top of the 250 cuts announced last May. The restructuring plan is due out this week, along with the company's interim figures.

Meanwhile, General Semiconductor announced on 17 August that its Irish plant, which currently employs 670 people, is to close by the end of the year, in an effort to save approximately $25m (£17.3m).

The company said in a statement that production of its transient voltage suppression (TVS) diodes and rectifiers will be moved from the Irish plant to production facilities in Taiwan and China. It will take a one time pre-tax charge of up to $60m (£41.7m) in its third quarter.

The global IT downturn has been particularly tough on the Irish IT economy, which was once famed as the "Celtic tiger". On 9 August, the US-based direct PC seller Gateway announced plans to withdraw from the European market, bringing with it the closure of its plant in Dublin and the loss of 900 jobs. Gateway also laid off its staff in the UK bringing its total job losses to 1,085.

Last week, the International Monetary Fund's (IMF) annual report warned that Ireland's economy was "at risk" due to the downturn in the global IT sector, and stressed that the Irish government should prepare itself for even slower growth in the coming year.

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