A bicycle component manufacturing plant in Carrick-on-Suir is to close later this year with the loss of 53 jobs.
SRAM Ireland said that 31 permanent and 22 temporary employees would be made redundant when the assembly and distribution centre in the Co Tipperary town closes within the next nine months.
Management at the 40,000 square-foot manufacturing facility, which has been in operation since 1995, blamed the decision on competition from the Far East.
Fine Gael deputy Tom Hayes, who raised the matter during yesterday's sitting of the Dáil, said: "Minister Micheál Martin's refusal to adopt a business-friendly approach has seen home-based industries move abroad, and yesterday's announcement is yet another example of this."
He said that Ireland's high cost base and the Government's refusal to tackle vested interests were partly to blame for the closure.
The company will continue to employ 11 people at a new location, from where it will manage its European operations.
Board-game manufacturer Hasbro last month announced that 34 of its 419 employees in Waterford were being let go. These had been classified as "temporary, seasonal staff" prior to the introduction of legislation changing their status.
Deputy Hayes said that the Government had to become proactive in protecting Irish jobs.
He added: "Where there is a danger of competition from countries with lower production costs, the Government must be proactive about sourcing alternative employment for affected employees."
