More jobs go in IT sector

CMG is cutting 470 jobs as it battles against worsening trading conditions in Ireland and the UK.

It says a number of customers have been severely affected by the US terror attacks.

CMG says it has seen a significant downturn in business to insurance, financial services and transport companies in recent weeks.

It says that in order to cut costs by £20m a year, it is reducing staff numbers by around 10% in Ireland and the UK.

Cor Stutterheim, chairman of the Anglo-Dutch software firm, says he expects the challenging environment to persist through the first-half of next year.

He says: "While at the personal level we greatly regret having to make redundancies in Ireland and the UK, we recognise that these relatively small adjustments to our staffing are necessary to ensure that the cost base matches projected customer demand.

"This decision has been balanced by our equally critical determination to maintain the quality and flexibility of the service that we provide to our customers."