Today’s news that Pfizers will cut 300 jobs from their Cork plants in Loughbeg and Shanbally is a real blow for Cork and a great loss for many families and the surrounding communities.

The Cork job loss constitutes almost half of all the jobs the company are cutting in Ireland, however it is not new news as concerns had been raised since the announcement of its merger with Wyeth in October 2009.

Originally, I questioned the former Minister for Enterprise, Mary Coughlan, on the matter and more recently Barry O’Leary the Chief Executive of IDA and raised concerns that employees of Pfizers were raising with me. Both acknowledged the concern and Mr OLeary told me that there would be pain for Cork in the pharmaceutical area.

The products Pfizer’s manufactures at its Loughbeg plant is approaching the time when it will go off patent, a fact know to the former Minister and the IDA. This, coupled with difficulties the industry is facing were obvious declining signs and my next question for the Minister and the IDA is what action did they take to ensure Pfizers could continue to operate here?

Also, Pfizers have a growing biotechnology business and want to place themselves as a top biotherapeutic innovator and I want Cork to benefit from that growth.

Carrigaline in particular is one town that will be devastated by today’s news as many of the employees are living in the town. It is an area that is suffering from the economic downturn. The lack of progress on the relief road is one key example. I was in the town yesterday and was saddened by the numerous ‘To Let’ signs on the main street. Carrigaline is a town with much to offer, it has a vibrant young and educated workforce and it will bounce back. But, they need support and investment now.