Software group Logica has announced it is cutting 160 jobs at its Dublin and Cork operations as the company warned of flat revenues and a fall in earnings per share this year.
"At group level we expect full-year revenues to be little changed and earnings per share before restructuring costs to be significantly below last year," the company said today.
"While our IT services business is stable in a very difficult market, trading conditions at our mobile networks division have worsened considerably as the current half has progressed," Logica said.
The company entered the Irish telecoms market in 1997 when it acquired Aldiscon, the Irish mobile telecoms software company.
Investors fear Logica has little chance of winning the battle for the potentially lucrative multimedia messaging (MMS) market as giant equipment vendors such as Finland's Nokia and Sweden's Ericsson flex their muscle.
Logica has recently suffered a series of downgrades from brokerage houses and investment banks, and analysts fear it may tone down its guidance when it has a trading update on May 30th.