Financial software company Information Mosaic is to lay off 22 people in Dublin following a review of its business strategy.
The company says it has decided to concentrate on its core activity, which involves developing products for retail financial institutions in Ireland and Europe. The company was also involved in providing technology for Internet banking, but has been hit by the downturn in this sector.
Information Mosaic was founded in 1997 and will employ just over 40 people following today's announcement. It says it is profitable and has a strong customer base. The company received funding of £7m in a private placing last December.
