It is not all doom and gloom in the high-tech sector, job announcements in Northern Ireland proved today.
A £2.39 million investment by 8over8 in a software development centre in Derry has created 24 jobs with plans to create up to 100 in the future.
A further 30 Internet-related engineering jobs are being created in Belfast by Internet Designers Limited IDL, a joint venture company created by BT Holdings.
Announcing the 8over8 expansion at the University of Ulster's Science Park, Northern Ireland Enterprise Trade and Investment Minister Sir Reg Empey said it "greatly enhances Northern Ireland's reputation as a rapidly developing centre of excellence in one of the most dynamic international industries - e business."
Sir Reg added: "It sends out the strongest possible message to the global industry that Northern Ireland is a world class business location."
The company had set its sights on becoming the leading international supplier of eBusiness procurement and contract management software to major corporations and public sector organisations, he said.
It had developed its own highly innovative products and had a sharp export focus, he added.
In Belfast IDL's facility will provide services sourced by BT Northern Ireland and also service mainland BT contracts with its Belfast staff , including analysts, systems designers, developers and delivery/project managers.
The minister said the setting up of the new venture for IDL saw the creation of highly skilled jobs within an ambitious project which aimed to develop leading edge skills in a wide range of software and computer technologies.
Both companies have been offered financial assistance by the Government's Industrial Development Board. 8over8 is getting £815,000 towards its expansion and IDL £210,000.
PA