A wave of layoffs launched by tech giants in California is reaching the shores of Ireland. In the Meta group, around 400 of the 3,000 people who work in Dublin on Facebook, Instagram and WhatsApp will leave the ship. The new captain of the social network Twitter, billionaire Elon Musk, meanwhile decided to part with a third of the 500 workers in Ireland. “These announcements are alarming” slide off Irish times.
Because over the course of sixty years, the Emerald Isle has phased out agriculture to roll out the red carpet for foreign direct investment. In particular, over the past twenty years, Silicon Valley companies. “While Ireland still exports livestock and dairy products, foreign multinationals now account for 10.2% of the country’s jobs and 66% of its exports.” contextualizes The keeper.
No one escapes the crisis
The first company to open its European headquarters in the Irish capital in 2002, Google has led to many other Silicon Valley companies attracted by the favorable taxation. “The 12.5% corporate tax prompted US giants to repatriate their international earnings to the Republic of Ireland,” come back Daily
Source: Courrier International
I am Annabelle Sampson and I work for The News Dept as an author for their news department. My main focus is on economy news, but I also cover other topics such as business, finance, and current affairs. My writing has been featured in prominent publications such as The Wall Street Journal, Forbes Magazine, and the Financial Times. I have a passion for learning more about economic trends and understanding how they affect businesses of all sizes. To stay up to date with the latest developments in the field of economics, I make sure to keep track of reliable sources like Bloomberg News or Reuters. In addition to my writing work, I often provide consultation services related to economic matters for clients both large and small.
