Corel axes 139 jobs in Ireland

NEWS Canadian software firm Corel is to close down its engineering operations in Ireland as part of a major global restructuring programme - a move that will cost 139 jobs. The company claims there will be opportunities for some of the affected employees to relocate to Canada and work at the corporate headquarters. Corel - which has been going through a turbulent period - is trying to cut a total of $40m from its cost base. In a statement, Derek Burney, interim president and CEO of Corel, said: "The decision to consolidate our engineering operations in Canada was by no means an easy one. It's a necessary step to streamline our costs and development efforts and is part of a broader strategy to support the company's long-term growth. "With our cost-restructuring plan well in hand, we have addressed one of the key areas which will enable us to move the company forward and we'll have announcements on our progress with the other key areas by the end of the month." A core team comprising professional services, manufacturing and distribution will remain at the Dublin facility to support Corel's international customers. Manufacturing for international distribution will continue to be outsourced in Ireland.