Cowen urges industry to remain calm amid job-loss fears
The Government has urged everyone to hold their nerve amid mounting job losses.
News that up to 500 people could be at risk of losing their jobs at Pfizer in Cork is reverberating throughout industry.
The US pharmaceutical giant is the latest multi-national to signal relocation plans to cheaper countries.
Minister for Finance Brian Cowen insists Ireland is responding to new challenges.
He said: "By building greater productive capacity, by increasing the skills of our people, we will seek to create more knowledge-based jobs in the future that will improve competitiveness and create greater productively gains as well."
