The Jobs Minister has welcomed the outcome of ballots at Bausch and Lomb that will see 900 jobs saved.

The TEEU last night joined their SIPTU colleagues at the Waterford plant in accepting a cost savings plan which will see pay cuts and changes to terms of employment for remaining staff. SIPTU workers voted to accept the package on Monday.

200 people will still lose their jobs under the plans.

The deal will see workers take a pay cut of 7.5% as well as accepting other changes to their terms of employment.

In a statement this morning, the IDA says the company has committed to invest in Waterford and it will support management and staff into the future.

It was feared that the plant, which employs 1,100 people, would be closed down if agreement was not reached.

Minister Richard Bruton has paid tribute to all parties involved.

Following the TEEU result, the union's regional secretary Paddy Kavanagh said the cost saving proposals were harsh but the alternative was unthinkable.