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1,000 jobs a week axed

REDUNDANCY affected 33,336 people in the first eight months of the year, official figures have revealed.

The Irish Small and Medium Enterprises Association said there are almost 1,000 redundancies announced every week and significant losses will continue for the foreseeable future.

"The sector has long outlined that the costs of doing business, the lack of credit and late payments are undermining their ability to trade and have forced many companies to close or contract," said ISME chief executive Mark Fielding.

"When taken together with the huge levels of uncertainty that currently prevails, it is not surprising that the number of redundancies remain high."