Fifty jobs are to be lost at Limerick technology company Cognizant Technology Solutions Corporation.
Staff at the company were told today that the firm will close down in Ireland. It provided software development and maintenance services to clients in the United States and blamed its closure on the strength of the euro against the dollar.
In a statement today, the company said: "The appreciation of 35 per cent in the value of the euro against the US dollar since the facility was acquired has substantially increased the costs of the operation and has resulted in the company's decision to close it over the course of the next year."
The company said it would provide severance packages and outplacement services. All production carried out at the plant will be transferred to Cognizant's operations in North America and India.