Ireland on life support from tech giants

Ireland on life support from tech giants
Twitter’s Dublin headquarters will be cut from 500 to 250 employees due to layoffs announced by Elon Musk following his takeover of the social network. CHARLES MCQUILLAN/Getty Images via AFP

Decryption – In the middle of the storm, the country receives 10% of its tax revenue from ten American multinationals, including Gaffa.

In the docks of Dublin, nicknamed the “Irish Silicon Valley,” Twitter’s announcement on Friday, November 4, Immediately laying off half of its workforce worldwide, had the effect of a cold shower. 250 out of 500 positions in the company’s Dublin headquarters, bought by Elon Musk. A few days later, it was Facebook’s turn to formalize staff reductions that could affect 350 of Ireland’s Meta Group’s 3,000 employees. There are also plans to cut jobs at Intel or Stripe.

The government will urgently summon the leaders of these tech giants. Because if the sector has partly enabled Ireland to avoid recession during the Covid crisis and to be near full employment today, these clear cutbacks could put its growth at risk. This represents 140,000 jobs in Ireland, or 6% of the total, and 12% of tax revenue.

Also Read – After the big scare, Ireland…

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