The Shannon Free Zone in Co Clare looks set for more job losses, with confirmation that Thomson Financial Ireland is exploring a proposal to move from Ireland with the possible loss of 80 positions.
Thomson Financial, an operating unit of Thomson Corporation, provides integrated information and technology applications in the global financial services industry. The company has been in Shannon since 1987.
It said yesterday that it is considering moving its operations from Shannon to established Thomson Financial facilities in other locations, resulting in the closure of the Shannon office.
Although not confirmed by the company, it is expected that most if not all of the Irish operation will be moved to India.
In a statement, the company said it had entered into a period of consultation in Shannon to review the proposal to move.
"This period of consultation will affect up to 80 employees and last a minimum of 30 days. It is not possible to speculate about the outcome until the consultation process is complete."
"Thomson Financial takes its obligations as an employer very seriously. We will make every effort to ensure that affected employees in Shannon are kept informed of progress during the consultation period and will make sure that we have the appropriate staff available to address employee questions and concerns," the spokesman said.
Mayor of Clare and Shannon councillor Patricia McCarthy said the rate at which jobs were being lost in Shannon was "frightening". "Attracting alternative employment is difficult in an extremely competitive environment but will become more so for Shannon and the region if there is no guarantee of world connectivity through London/Heathrow," she added.
Shannon Development said that it was disappointed by Thomson's announcement.
The news comes less than a week after another company based in the Shannon Free Zone announced plans to cut its workforce by one-quarter by moving part of its manufacturing operation to Mexico. John Crane Ireland, a leading designer and manufacturer of sealing systems, will cut 30 of its 120 jobs in Shannon.
In August, 90 jobs were lost in Shannon when toolmaking company Mohawk Europa Ltd closed its doors after workers rejected management proposals for cost-cutting measures that would have seen staff lose bonuses.
Last March, another subsidiary of Thomson Corporation confirmed the loss of 200 research posts at its scientific and health division in Plassey in Limerick.