Job loss fear at Symantec

One of Dublin 15’s longest established multi-national companies – Symantec – has confirmed that it is considering job cuts as part of an overall global review of its operations.

The company employs 700 staff at its premises in Ballycoolin and it is understood that the company has placed 150 manufacturing jobs under review. A final decision is expected at the end of next month
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An IDA spokesman said it was aware of the review process, which he said was “part of normal business practice.”

Symantec is a global leader in anti-virus software and produces the famous Norton’s suite of computer programmes. The company which has its global headquarters in California employs 17,500 staff in more than 40 countries worldwide.

According to the most recently filed accounts from Symantec, its Irish division made a pre-tax profit of €157m for the year to the end of March 2006, down from €419m for the previous year.

The company is also in dispute with the Revenue Commissioners and last year it filed a claim for a multi-million euro tax rebate claiming it had overpaid taxes in 2003 and 2004. It is understood to be seeking a rebate of approximately €7.6m in respect of this overpayment.

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