Data storage systems-maker EMC will cut 1,100 jobs, or 4 per cent of its global work force, as it tries to reach 2001 growth targets of 20 per cent and cut expenses.
Last September EMC announced a euro 23.20 million expansion of its services facility in Ovens, Cork, creating 300 jobs. A spokesman for EMC told ireland.com the Cork jobs are not in danger.
The spokesman added that most of today's job cuts will be targeted participants in the company's performance programme who have failed to reach targets.
However the company said it will be delaying facilities expansion which were built in anticipation of higher 2001 revenue growth before the impact of the slowing US economy and the dot-com shakeout had been felt.
The company said in a statement it would post a one cent charge in the second quarter for the job cuts and redeployments that are part of its efforts to increase its market share.
The job cuts, which will be implemented over the next couple of weeks, will leave its total headcount at about the same level as when this year began.