80 jobs in Global Shares expansion

Cork software company Global Shares yesterday announced a three-year expansion plan that will create up to 80 additional roles at its headquarters in Clonakilty, West Cork.

The company, which was established almost a decade ago, develops innovative web-based software solutions for companies to automate the administration of their employee equity plans.

The software synchronises data from companies’ payroll; HR; tax; accounting and reporting systems, helping employees own company shares as part of their rewards package.

The foundations for the planned expansion have been put in place over the past number of years and are now ready to accommodate the growth of the company, Global Shares chief executive Tim Houstoun said.

“We have grown substantially over the last two years and we have shaped our business for this expansion. Our new equity compensation management solutions are first-class and our mission now is to communicate the strength of our software and service offering to global markets,” said Mr Houstoun.

The company forecasts that revenues and export sales along with employment will more than double at its Clonakilty base within two to three years, with 60 employees currently based in West Cork.

The announcement was made as Jobs Minister Richard Bruton was in Cork to host the south-west enterprise consultation which will feed into the development of an action plan for jobs for the region to be published in the coming months.

The minister’s department also released figures regarding the number of new jobs supported by the country’s local enterprise offices in the last year which showed 4,000 net new roles came on stream — more than 480 of which were in Cork.

Further north, Carlow-based healthcare company MSD announced that it is to invest €11.5m in its Carlow site this year.

Retailer Penneys is also to add a further 17 staff to its payroll in Sligo following the renovation of its store in the town which brings the total number employed to 103.