Europe's No. 1 computer security software maker, Baltimore Technologies, whose shares have fallen 95 per cent this year, said its global restructuring would cause a "significant" reduction in headcount.
The Irish internet security maker, which announced 250 job cuts, or 18 per cent of its staff in May, said its restructuring would generate annualised savings of about £14m.
Without offering a specific figure, the company said its restructuring effort will involve a significant reduction of its 1200 employees.
Fran Rooney, chief executive of Baltimore, said: "We are entering into a consultative process with management and employees. No details will be announced until August when we present our second-quarter results."
Rooney said last year the company was building for significant growth. "Now we are in a different situation. All companies are feeling the pain in a tough technology sector."
Two other computer security firms, Symantec and Internet Security Systems, have in the past two weeks said second-quarter sales may be more than 10 per cent lower than expected.
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