‘Insurance costs and inflation’ putting jobs at risk

UP TO 700 jobs are at risk because of soaring insurance costs and pressure from inflation, the chief executive of Shannon Development warned yesterday.

Kevin Thompstone said this was the toughest economic environment in a long time and many companies were fighting for survival.

He was launching the semi-State company's 2002 annual report in Limerick, which revealed that 734 jobs were lost in the region in 2002.