The head of Cable & Wireless's systems integration division in the Republic has resigned to pursue other interests as the company continues to review its operations.
Mr Tadhg Foley was also a director of Cable & Wireless Ireland Limited, a division of the British company that supplies telecoms systems in the Republic.
This division reported an €11 million slump in revenues in the year to March 2002, compared to the previous 12 months. Revenues fell to €17.49 million in 2002, down from €29.8 million, new figures published by the firm show.
Cable & Wireless Ireland lost €2.58 million in 12 months up to March 2002, compared to a loss of €4.57 million in the previous year.
But the losses were boosted by a €2.29 million exceptional cost, due in part to redundancy charges incurred in a restructuring plan. Operating losses from continuing operations for the division were reported at €472,753, down from €1.95 million in the previous year.
The firm's annual return shows that Cable & Wireless Ireland had a loss account of €5.5 million at the end of March 2002. It also shows the division employed an average of 175 staff during 2002.
Cable & Wireless supplies a range of firms in the Republic, such as IBM, Coillte and the ICS building society, with network and systems integration services. But its British parent is in the midst of a restructuring plan that will see it shut down many of its global operations. Last month the company shut a global services centre in Shannon with the loss of 50 jobs, although it has not rationalised its Irish division.
Mr Ian Burnley, head of Cable & Wireless global network operations, said there was no detailed review of the firm's Irish division; rather there were some reviews that always took place from time to time at the firm.
However, Mr Burnley said there would be no significant changes at the division in coming weeks or months. He also said the accounts for Cable & Wireless Ireland did not reflect the group's profit as a whole in the Republic.
Revenues in the Republic were worth about £25 million, he added.
