Accounts show Cork-based tech firm shed 255 jobs

SWINGEING cutbacks at the Irish arm of wireless technology manufacturer, Option Wireless has reduced the company’s workforce from 295 to 40.

A spokesman for the Cork-based firm confirmed the reduction yesterday as new accounts show the company moved into the red in 2008 after recording post-tax profits of €16.9m in 2007.

The figures show the company made a post-tax loss of €51,060 to the end of December 2008 when the company employed 295. That reduced to 190 at the end of last year and the spokesman said that’s now down to 40. He said there are no further restructuring plans.