The Minister for Enterprise, Trade and Employment has said he believes Ireland is "over the worst" in terms of multinational tech companies announcing jobs cuts here.
Simon Coveney said that while some of those global announcements still have to translate into detailed statements on the numbers of jobs that will be lost in Ireland, the overall message from the technology sector was positive.
Mr Coveney spent the early part of this week in the US, where he met senior executives and visited the head offices of many of the big tech companies who have their European bases in Ireland.
"I certainly think we're over the worst in terms of announcements, but of course some of the global announcements have yet to be translated into announcements here in Ireland," Mr Coveney told RTÉ News.
"We travelled to meet the key decision makers in tech companies for a reason. The message that they were giving me very directly is that Ireland is a place where they plan to grow and invest more in the future - not less - despite this temporary correction that is necessary," he added.
Twitter, Meta, Stripe, Amazon, Intel, Microsoft, Google and HubSpot have all announced cuts to their workforces in Ireland in recent months.
Last week, it was confirmed that around 200 staff at Salesforce in Ireland are to lose their jobs as part of global cost-saving measures at the company.
However, Mr Coveney said that in many cases these cuts were proportionally less than cuts that had been made by the same companies in other countries.
Referring to his meetings with tech sector executives in the US earlier this week, Mr Coveney said: "I got the sense from them that they've made the correction - as they would put it - that they needed to make to recognize the fact that growth and additional jobs numbers in most of these companies happened too quickly over the last number of years.
"There's a recognition of that now. And so they're making cutbacks to reverse some of the growth of the last 18 months."
He also said the number of jobs being cut in Ireland over the past few months is a fraction of the overall number of jobs that have been created in the tech sector here.
He said the biggest tech company, Apple, has not cut its workforce here at all and is instead planning to increase employment in Ireland at its European headquarters in Cork by 1,300 people in the coming years.
