Govt urged to set up watchlist of at-risk companies

The Labour Party is calling on the Government to set up a watchlist of companies that are at risk of collapse due to the economic slump.

The call follows the announcement of almost 500 jobs losses at separate firms in Cork and Offaly yesterday.

Howley Civil Engineering announced plans to close its facility in Carrigtwohill with the loss of 250 jobs, while Boston Scientific says it will be shedding 240 jobs in Tullamore.

Labour TD Kathleen Lynch says the Government should be keeping a closer eye on such companies to help them avoid making lay-offs.