ABB is to discontinue local operations early next year, a move described as a devastating blow to the region by a local senator.
Paudie Coffey said the ripple effect will impact severely on local contractors and services in the area.
Senator Coffey went on to say that the implementation of Fine Gael's NewEra policy would prevent business such as ABB from going to the wall.
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"ABB, which manufactures electrical transformers, has decided, due to a significant decrease in the number of orders on its books which makes the future of the Waterford plant unviable, to cease local operations in March 2010 with the loss of 178 jobs," he said.
"The government, despite a raft of proposals from Fine Gael, continues to stand idly by without sight or sound of a credible job creation or job protection plan," claimed the senator.
He said the closure of ABB could have been prevented if the government took on board Fine Gael's NewEra proposal to create 100,000 jobs by targeting investment in green energy power generation, telecoms, broadband roll-out and the upgrading of our water distribution and treatment networks.
"It is time for Fianna Fáil to step aside and make way for a Fine Gael Government which has the policies, drive and know how to get the country back on track," added Mr Coffey.
(PR/JM)
