Was it only last year that everyone was seeking to match the rocketing salaries in the software sector and that the reform on taxation on stock options was a hot budget issue?

It all seems so far away just now as company after company in the technology sector retrenches and trims staff.

Workers made redundant in recent weeks have not seemed overly concerned about the future but as the job losses mount - and reach out into the regions - the ability of other companies to step into the breach will be tested. So far this month more than 2,000 jobs have disappeared in the Republic, with the figure for this year is moving close to five digits.

As for stock options, common currency in the new economy until recently, many are hardly worth the paper on which they're printed. They are certainly little consolation to a generation that has borrowed heavily on expectation, only to find it doesn't pay the bills.