US firms create 500 posts in wake of PRSI scheme
MORE THAN 500 new jobs are expected to be created by three different multinational companies, with one firm establishing its European headquarters here for the first time.
US financial-services firm FCStone will open offices in Dublin within the month, initially creating 25 jobs but hiring more in the future, the Irish Independent has learnt.
A US-based call-centre company, Stream Global Services, is hiring 400 workers, while US recruitment firm Spencer Stuart is also looking for 100 new staff.
The job creations come on the heels of the PRSI holiday for employers which was announced by the Government earlier this week.
Under the scheme, companies are exempted from PRSI payments to assist with the creation of new, full-time positions.
According to the Government, the scheme, which is costing the taxpayer €36m, will save an employer in the region of €3,000 from the annual cost of hiring a worker.
It is understood the Stream Global jobs are being supported by a new contract from Microsoft, with the company supplying call-centre services to European customers of the Xbox 360 games consoles.
Stream already employs 300 staff at its Santry offices in Dublin. It provides technical support to Eircom's broadband customers and also has a number of other clients including PC makers as well as software and electronic firms.
Spencer Stuart is hiring 100 additional personnel. The recruitment firm is to establish a multi-million euro global technology and knowledge centre in Dublin, creating jobs in software development, information-technology support services and data quality.
The move was welcomed by IDA Ireland chief executive Barry O'Leary.
"As a leader in this sector, it provides the opportunity for IDA Ireland to attract further investments from other companies in the executive search sector and wider services industry," Mr O'Leary said.
In the past six months, the Government has announced more than 1,200 job creations through IDA Ireland in companies like eBay, IBM, Hertz, PayPal and Zurich Insurance.
However, many more jobs are being lost than created with 440,000 people now on the live register, many of whom are long-term unemployed.
The PRSI scheme is designed to help those who have been unemployed for six months or more.
It applies to the creation of full-time jobs and not to seasonal or part-time posts.
The job must last for at least six months. If it does not, the PRSI will have to be repaid.
People who have been in FAS training schemes for more than six months are also eligible.
Earlier this week, business networking site LinkedIn said it was adding 35 people to its Dublin workforce.
The company, which is based in Silicon Valley, is planning to establish its international headquarters in Ireland.