A company which makes recordable CD-Roms is to close its plant in Youghal Co Cork with the loss of 243 jobs.
Technicolour Home Entertainment is based in a 120,000 square foot facility in the town and was recently bought from the US-based Eastman Kodak company.
The announcement comes six weeks after 160 jobs went at the Artesyn factory in the town.
The Tánaiste and Minister for Enterprise, Trade and Employment, Ms Harney, said she had learned of the closure of Technicolor in Youghal only this afternoon and added that the news had come as "a complete surprise".
In a statement released this evening she described the announcement as a "devastating body blow, not just for the workforce in the company, but for the entire community."
The Labour TD for East Cork, Mr Joe Sherlock, said the region was now "in danger of becoming an economic disaster area."
"It is absolutely essential that the Tanaiste should now instruct the industrial development area to this region absolute priority in the search for major projects to replace the jobs lost," he added.
Fine Gael's Mr David Stanton described the news as a devastating blow.
