27/02/2002

Sx3 to axe around 150 jobs throughout British Isles

Newtownabbey-based technology company Sx3 is set to axe around 150 jobs at its numerous sites across the UK and Ireland.

Although an exact figure is uncertain at present, it is thought that up to 150 workers may lose their jobs.

This latest batch of redundancies by the company follow its first round of voluntary cuts late last year, however these appear to have failed to cut costs sufficiently to match the worsening conditions in the IT sector.

A statement released by the company late on Tuesday February 27, said: "Sx3 is facing pressure on costs and the company has experienced a slower conversion of orders into revenue.

"While the cost reductions will be sought in all areas of the business, not just in staff costs, the company estimates that the current proposals could result in the loss of a further 150 jobs."

The statement added that the company was streamlining the business after buying out four companies in the past year.

Sx3 supply a range of IT and business support services to the education, housing and public sector organisations.

(MB)

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