More than 200 jobs are to go at seperate factories in Limerick and Dublin.
A Blanchardstown-based electronics company, Teradyne, is to let 100 workers go over the coming months and a Co Limerick engineering firm is to close down with the loss of 117 jobs.
Diamond Engineering, located in Kilmallock, Co Limerick, designed and manufactured carbon and stainless steel storage tanks, pressure vessels and pipes.
Fine Gael TD for Limerick West Mr Dan Neville said the Government's "inept policymaking" was responsible for the closure.
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"The Tánaiste must immediately set up a task force to obtain a replacement industry and avail of the excellent skills of the workforce of Diamond Engineering," he said.