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| KPMG to shed 20 jobs in Belfast | KPMG to shed 20 jobs in Belfast |
| (21 minutes later) | |
| The accountancy and consulting group KPMG is to make 20 people redundant from its Belfast operation. | The accountancy and consulting group KPMG is to make 20 people redundant from its Belfast operation. |
| About 200 people will lose their jobs across Ireland, the firm has said - a reduction of 10% across the company. | About 200 people will lose their jobs across Ireland, the firm has said - a reduction of 10% across the company. |
| The firm employs about 2,000 people in Ireland. The company is also cutting pay to its remaining staff by between 5% and 10%. | The firm employs about 2,000 people in Ireland. The company is also cutting pay to its remaining staff by between 5% and 10%. |
| Those earning under 35,000 euro will face a 5% pay cut and those on larger salaries face a 10% reduction. | Those earning under 35,000 euro will face a 5% pay cut and those on larger salaries face a 10% reduction. |
| The redundancies and pay cuts take effect from May. In a statement the company said it regretted the news. | The redundancies and pay cuts take effect from May. In a statement the company said it regretted the news. |
| It said it had worked hard to minimise redundancies and regretted having to take these measures. | It said it had worked hard to minimise redundancies and regretted having to take these measures. |
| It is understood support services staff and recently qualified accountants outside the firm's management grade will also be affected. | It is understood support services staff and recently qualified accountants outside the firm's management grade will also be affected. |
| Meanwhile, Taoiseach Brian Cowen told the Dail on Wednesday that unemployment in the Republic of Ireland had risen to 354,000. | |
| That represents an 8% rise on January's figure. Mr Cowen said there would be a supplementary budget in the first week of April. |