Technology company Hewlett Packard says there are no plans for any more job cuts among its Irish workforce at the moment, but added that the situation remains constantly under review.
Last November, the company said that it and its newly acquired subsidiary EDS would cut 133 jobs in Ireland over the next two years.
Hewlett Packard employs 4,000 people at its facility in Leixlip in Co Kildare and EDS employs 400 in Dublin city centre.
Last night, the company announced that its employees worldwide will see their pay cut by between 2.5% and 5%. A spokesman said it was too early to speculate how the new pay regime would affect its Irish employees.
HP said the pay package of its CEO would be reduced by 20%, while its executives would see cuts of between 15 and 10%. It added that participants in its share ownership programme will no longer be able to buy shares at a discount.
The company also announced last month that staff at its Inkjet Manufacturing Operation are to take eight days of leave in March and April in a bid to cut costs.
The move will enable the company to shut the manufacturing plant completely over the period between St Patrick's Day and Easter, in order to reduce costs. Staff were asked either to take holidays or unpaid leave.
Meanwhile, Hewlett-Packard cut its profit outlook for the year after revenue for its first financial quarter missed expectations due to weak sales of printers, personal computers and servers.
While its diversified businesses - which also include computer services and software - have kept it relatively resilient to the economic downturn, it is still vulnerable to sharp cutbacks in corporate spending on technology.
For its 2009 financial year, HP forecast profit excluding once-off items of $3.76 to $3.88 a share, with a revenue decline of 2% to 5% from $118.4 billion in fiscal 2008. That compared with its previous forecast for earnings per share of $3.88 to $4.03.
The company said net profit for its first quarter to the end of January fell to $1.85 billion, or 75 cents a share, from $2.13 billion, or 80 cents a share, a year earlier. Q1 revenue rose 1% to $28.8 billion.
The company is the world's top PC maker, with a market share of nearly 20% in the 2008 fourth quarter. Last year, HP acquired Electronic Data Systems Corp in a $13.2 billion deal, making HP the second largest technology services company behind IBM.
