Seventy jobs are set to go at a car components plant in Waterford city.
German firm, Kromberg & Schubert, which specialises in electronics, plastics and the manufacture of cables and leads for the motor industry today announced it was laying off half the staff compliment at its plant at the IDA industrial estate in the city.
The company which employs around 7,000 people throughout the world and set up in Ireland in 1973, blames higher wage costs in comparison to other countries for its decision.
The firm operates a number of factories in Eastern Europe and it is understood a Hungarian plant will take on the extra work.
A company statement issued this afternoon said: "Due to the rising costs of cable harness manufacturing in Ireland, it is with deep regret that company must now complete the final phase of cable harness transfer programme to one of our Eastern European plants."
The company said "35 direct employees and 35 indirect employees" would be laid off. Its cable and wire production facility and sales support services would be maintained, the statement added.