CONCERN WAS mounting in Cork yesterday about the state of the local economy after a company that invents and produces new technology for mobile phones announced its decision to close, with the loss of 47 jobs.
All employees at Freescale are college graduates, and more than half have master's degrees. An estimated 10 per cent have PhD qualifications.
The Freescale design and innovation centre at the Cork Airport Business Park has been in operation for 10 years. The US company is headquartered in Texas.
It is understood work carried out at the Cork centre will be transferred to the US. The centre will shut down completely in September.
The Cork team currently develops products for portable wireless applications.
The team of skilled engineering staff are involved in system engineering, product architecture creation, precision analogue and validation and application support.
The closure of Freescale comes just three days after a second Cork company, Hormann Electronics, announced its decision to shut down its plant with the loss of 138 jobs.
Officers from Fás are due to meet the newly unemployed staff from Hormann Electronics in Blackrock in Cork city later this week to assist them with securing alternative employment.
Hormann Electronics, which made circuit boards, went into receivership last week after it got into financial trouble.
A business review of its operations has forced its shutdown, with 117 people being laid off with immediate effect.
Another 21 people will be made redundant at the end of this month, according to receiver Liam Dowdall, of BDO Simpson Xavier.
Local Fine Gael Senator Jerry Buttimer has called on the Government to take immediate action to ensure investment and job creation in Cork.
"Industrial jobs are being haemorrhaged, not only in Cork but throughout the country, at a phenomenal rate.
"At what stage will the Government take the matter in hand and address the cost of doing business in Ireland?
"The Government must buck up and take immediate action to ensure investment and job creation in Ireland through the upskilling of our workforce, by restoring competitiveness through investment in infrastructure and by slashing regulatory red tape," Mr Buttimer said.