Celestica, a contract manufacturer which employs more than 1,000 people in Dublin, will cut its workforce by about 25-30 per cent.

A spokeswoman for the firm said there had been no restructuring in the Republic yet and the allocation of redundancies between group operations would be decided over the fourth quarter.

Celestica reported third-quarter results at the low end of reduced guidance on Wednesday. The firm also presented "conservative" financial guidance for the fourth quarter, shifting back by one year its 2003 target of $20 billion in sales.

Celestica said net income excluding goodwill charges for the quarter to September 30th fell to $64 million, or 27 cents a diluted share.