Careers and Jobs

Sun Microsystems announced on Friday that it will be cutting between 5,000 and 6,000 jobs globally which represents about 15% of its workforce. High loss has put the company under pressure to take these drastic changes. It is estimated that these job cuts would save the company about USD800m annually.

Careers & Jobs for all the latest jobs news in Ireland. Read recent stories about KOSTAL, BANTA GLOBAL & CITCO FUND SERVICES.

Careers & Jobs helping jobseekers achieve their career goals in Ireland. Read a recent post about Job Search Strategies. Help with CV’s, Cover Letters & Interviews – CV Writing Tips & Help, Cover Letters, Interview Tips Skills & Techniques and much more.

Citco has announced that it will cut jobs in Ireland. Employee at their IFSC offices were told that jobs will be lost from next month. Citco provides administration services primarily to non-Irish funds and the company has 1,000 employees in Ireland between Dublin and Cork. We announced earlier this year that they would be creating new jobs in Cork. What a difference 6 months makes.

Citco had planned to grow its Cork city operations and allow the location to take responsibility for a wide range of additional activities. This expansion plans were supported by IDA Ireland and were to create 150 jobs over the next 3 years. This expansion is now in doubt with the job cuts announcement.

Irish operations make up more than a quarter of Citco’s overall workforce. Generally the sector, Fund Administration, accounts for 9000 jobs in Ireland.

I wrote yesterday about the great news released that PAYE workers had reclaimed 1.5bn in tax over the last 4 years BUT guess what!! Abuse and health scandals have just wiped this out. When you sit the cost of the Tribunals on top of this we are actually worse off.

So any good jobs news stories today?

FINANCIAL SERVICES – Cork was once known for its strong Pharmaceutical Sector (and GAA strikes) BUT now it seems that it is building its own little IFSC. Citco has announced that it is creating 150 new jobs. The company already employs 145 in Cork. The majority of the new roles will require 3rd level business/accountancy. Ireland is now has over 40 companies employing over 9000 staff in the funds administration sector.

INFORMATION TECHNOLOGY (IT) - More than half of senior technology executives are confident about the sector in 2008. Many see increases in employment in the sector. Over half believe that it is getting difficult to recruit IT staff.