In another setback for the Irish high-tech sector, the US telecommunications firm Formus Broadband tonight said it was closing down its Irish operation with the loss of more than 70 jobs.
The closure was attributed to a decision taken in the United States by its parent, Formus Communications, to cut back on activities in Europe involving the company.
Formus Communications pulled its proposed Nasdaq flotation in November due to a downturn in market conditions for technology stocks.
