Mary Harney has expressed her disappointment at 3Com's confirmation that it will close its manufacturing plant in Dublin with the loss of 640 jobs.
The Tánaiste and Minister for Enterprise, Trade and Employment said that despite outperforming all contract manufacturing options available, the company has chosen to relocate and outsource their operations from the Blanchardstown site.
Harney said she was aware that 3Com was offering a generous redundancy package and will offer assistance in finding alternative employment.
She has also instructed the state employment agency FÁS to assist in this process.
Speaking today, the Tanaiste said: "I do not underestimate the challenge in finding alternative employment for these workers.
"However, in the area of the M50 ring I have over the last three years announced the creation of nearly 8,000 new jobs.
"I am confident that many of the workers may find alternative employment in the spread of these significant new investments in the region," Harney added.