Online recruitment company StepStone said today it is to cut up to 526 jobs saying its business has been hit by weak financial and business markets.
StepStone employs approximately 12 people in its Irish operation. A company spokesman could not confirm today if Stepstone’s Irish operation will be affected by the restructuring.
A statement released today said the company plans to pull out of loss-making or cash-hungry operations and to withdraw financial support for its British subsidiary.
The company said its business operations will be centred around its three most successful markets - Germany, Belgium and Denmark.
Operations will be maintained to expand its businesses in Norway, Sweden, Finland, Holland and Luxembourg.
However, it is looking at options to reduce the operating losses being incurred in other countries.
The company has revealed a third-quarter loss of £10.3 million, compared with £18.5 million in the previous quarter.
Revenues declined to £8.3 million, from £10.5 million last time.