Minister for Enterprise, Trade and Employment, Micheál Martin, has described the news of 200 job losses at a pharmaceutical plant in Waterford as " a major disappointment."
Sanofi-aventis became the latest multinational to reduce its Irish workforce earlier today, confirming that 200 jobs at its Waterford plant are to be lost by the end of the year.
Speaking after this morning's announcement, Mr Martin said the State's job creation agencies would provide assistance to workers in order to help them secure alternative employment in the months head.
Mr Martin said Fás would be in contact with each individual worker and added that the IDA would work to try and find a replacement industry.
In this morning's statement, the company said the decision does not reflect on the performance of the Waterford workforce.
Michael McGrath, General Manager, sanofi-aventis Waterford, said: "In terms of any redundancies which may arise we will do everything we can to support people with career advice and personal counselling."
The company said the decision was taken following a site evaluation which revealed excess capacity within the plant network that could take over the manufacturing done in Waterford.
It said the manufacturing in Waterford had been hit by continuing decline in European markets, due in part to increasing pressure from generic products.
Sanofi-aventis Ireland Ltd., the commercial operations arm of the company, employs 140 people at its headquarters in Dublin.
Local TD and Minister for Transport, Martin Cullen said the losses represented "a devastating blow" for the employees, their families and communities.
Minister Cullen added "It is clear that the decision by management at Sanofi-Adventis to move was a global strategic one and not one based on the performance of the workforce."
Brian O'Shea, Labour Party's Deputy for Waterford, said the job cuts were a worrying example of the wider haemorrhaging of highly-skilled jobs.
"The consequences of this proposed closure for Waterford are significant," he said.
"For too long the Government has been complacent about the employment picture. This complacency has resulted in announcements such as we have had today," he added.