Senior IDA Ireland management will meet executives at US firm Benchmark Electronics next week to discuss almost 80 job losses planned at the firm's Cork plant between now and next March.

The company, which employs 350 people at its Irish subsidiaries, is understood to be shedding two thirds of its staff at the manufacturing plant in Cork.

Almost 250 workers at its Dublin plant in Blanchardstown, which supports the manufacture of electronics equipment, are not expected to be affected by the downsizing.

An IDA Spokesman said senior management would meet with Benchmark executives in the US next week to discuss the situation.

"We are aware of the down-sizing at the company's Cork operation and we regret the situation," said the spokesman.

Benchmark recently reported third-quarter results which showed demand for its products had slumped due to the economic downturn.

For the quarter ended September 30th 2001, Benchmark reported revenues were $258 million (€295 million), down from $460 million for the same period during 2000.

The company has already announced global job losses and reported a restructuring charge of $62 million for the third quarter.

Local management at Benchmark was not available for comment yesterday. But a company statement released to RT╔'s onbusiness.ie website said the redundancies resulted from an assessment of its operational capabilities worldwide.

As part of the plan, the focus of Benchmark's Cork plant will change to a design and new product centre.