TECHNOLOGY ideas will be nurtured into start-up businesses in two industry- led institutions launched yesterday by Minister for Jobs, Enterprise and Innovation Richard Bruton.

Enterprise Minister Batt O’Keeffe today announced more than €25m over the next five years for 139 researchers to carry out cutting-edge work aimed at generating new jobs in the "smart" economy.

Almost 100 high-tech jobs are to be created by a £60m (€69m) investment in a Derry technology firm, it was announced today.

SOME of the leading global and Irish names in technological and medical devices will have their key research work carried out in a Cork facility under a €5 million investment by Enterprise Ireland over the next five years.

More than 450 employees at US-owned technology company Seagate are having their pay cut by 10% as the company battles to cope with the global downturn, it was announced today.

There were fears for jobs at a US-owned technology company today after the entire workforce was called to a meeting tomorrow.

The continuing collapse of work in the construction industry was the main driver in an increase in unemployment claimants in the North, which was one of the biggest in more than 20 years, government figures showed today.

A US technology company today announced a £120m (€150m) investment in a factory in the North as it prepared to make nearly 1,000 workers redundant a few miles away.

Around 900 workers in a technology factory facing closure later this year could receive job training as they continue to put in shifts, it emerged today.

The plight of around 900 Seagate workers losing their jobs will be debated in the Northern Assembly today.

Taoiseach Bertie Ahern will today address business chiefs in the North just days after a flagship company announced hundreds of job cuts.

THE 900 computer workers in the North who are to lose their jobs at Limavady-based Seagate have been told they will receive a favourable redundancy package as much as £20,000 (€29,000) each — but only if they stay until it closes down.

Nearly 1,000 workers being made redundant by US technology company Seagate are being offered six times the minimum statutory pay-off and will walk away with an average of more than £20,000 (€29,000) each.

A Northern Ireland pharmaceutical company today announced an investment of £83m (€119m) which could create almost 300 new jobs.

Efforts are due to get underway today to negotiate a redundancy package for around 900 workers who are set to lose their jobs at the Seagate plant in Co Derry.

THE NORTH suffered a major economic blow yesterday when it was confirmed one of its “blue ribbon” technology companies was closing a plant with the loss of nearly 1,000 jobs.

The North suffered a major economic blow today when it was confirmed one of its "blue ribbon" technology companies was closing a plant with the loss of nearly 1,000 jobs.

Stocks rebounded sharply today as investors, growing more optimistic about chances for an interest rate cut, sought bargains after the previous session’s huge tumble.

US firm Seagate Technology has said it will create 300 jobs in the North.

SEAGATE TECHNOLOGY, the biggest US maker of hard-disk drives, is to expand its operations in the North, generating 300 new jobs.

Neans McSweeney

A US technology company is investing €129m in its Derry plant in the development of next generation technology for the computer industry, it was announced today.

Seagate Technology, which makes hard disk drives for computers, is to go public again, having been taken private in August, 2000 by a group of private equity firms led by buyout firm Silver Lake.