The Government intends to apply for a European grant to assist the 575 workers made redudant by TalkTalk.
Minister of State for Training and Skills Ciarán Cannon said he will submit a new European Globalisation Adjustment Fund (EGF) application to re-train former staff of the Waterford facility.
Mr Cannon said the exact amount of funding being sought had not been decided but needed to be sufficient to provide further training, upskilling and enterprise support for workers.
Speaking on RTÉ radio this morning, Mr Cannon said one drawbrack to the EGF programme was the length of time it took for applications to be processed.
"The biggest issue with the fund is it does take an exceptionally long time to process an application. There is a two year period in which you have to spend the money and it begins when you lodge the application. So every week that passes by while the application is being assessed by the EU is a week lost in intervention," he said.
"But because we're aware of this delay we already have begun to spend money in the South East. Fás and Skillnets are helping the employees. I have established an EGF unit in my department and, working with IDA, we have begun interventions now on the basis that we will secure funding in the future."
Management had given workers just 30 days notice that its Irish operation would close last Friday.
Ireland has previously made three successful applications for the EGF scheme after large scale redundancies at DELL, Waterford Crystal and SR Technics.
Up to 9,000 former construction workers will also be assisted, subject to approval from the European Council and the European Parliament. Mr Cannon, Minister of State at the Department of Education and Skills, warned the EGF approval process is lengthy.
Additional reporting: PA