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21/01/2003
Logica announce over 300 jobs losses
Troubled telecommunications firm Logica, which recently merged with CMG, has announced that around 315 workers are to be made redundant in the next few weeks.
A spokesperson for the company confirmed that talks were underway on the redundancy packages for the employees affected by the cuts at the firms bases in Cork and Dublin. He said that most of the lay-offs would take place with in the next few weeks.
The merger of the two electronics services companies employing 23,000 worldwide was predicted to lead to around 1,400 jobs losses this year. The redundancies in the Republic of Ireland are the first to be announced by the group under a radical rationalisation programme, which is set to save the company £60 million in operating costs.
It is likely that the cutbacks at Logica will mean the cessation of development work on its software products in Ireland.
The Tánaiste and Minister for Enterprise, Trade and Employment, Mary Harney, said that the loss of 315 jobs at LogicaCMG was "disappointing and unexpected" but added that the company's decision was "clearly a result of the downturn in telecommunications markets around the world as well as a consequence of the merger between the Logica and CMG operations".
The Tánaiste said: "I understand that the company is announcing lay-offs across its operations worldwide and while that is of little consolation, it does underline the fact that job losses in the industry are not a phenomenon that is unique to Ireland. But the wheel always turns a full circle and the challenge facing us now is to ensure that we continue to get the fundamentals in our economy right so that we are better placed than others to benefit from the turnaround when it comes."
All together the IDA pumped €5 million into the two firms over the past few years, and it is understood that the agency has demanded €3.5 million to be repaid.
(SP)
A spokesperson for the company confirmed that talks were underway on the redundancy packages for the employees affected by the cuts at the firms bases in Cork and Dublin. He said that most of the lay-offs would take place with in the next few weeks.
The merger of the two electronics services companies employing 23,000 worldwide was predicted to lead to around 1,400 jobs losses this year. The redundancies in the Republic of Ireland are the first to be announced by the group under a radical rationalisation programme, which is set to save the company £60 million in operating costs.
It is likely that the cutbacks at Logica will mean the cessation of development work on its software products in Ireland.
The Tánaiste and Minister for Enterprise, Trade and Employment, Mary Harney, said that the loss of 315 jobs at LogicaCMG was "disappointing and unexpected" but added that the company's decision was "clearly a result of the downturn in telecommunications markets around the world as well as a consequence of the merger between the Logica and CMG operations".
The Tánaiste said: "I understand that the company is announcing lay-offs across its operations worldwide and while that is of little consolation, it does underline the fact that job losses in the industry are not a phenomenon that is unique to Ireland. But the wheel always turns a full circle and the challenge facing us now is to ensure that we continue to get the fundamentals in our economy right so that we are better placed than others to benefit from the turnaround when it comes."
All together the IDA pumped €5 million into the two firms over the past few years, and it is understood that the agency has demanded €3.5 million to be repaid.
(SP)
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