US manufacturer NCR has been criticised for cutting 650 jobs in Dundee, after its quarterly profits rose 16%.
NCR recently announced job cuts at its Dundee operation
The company recently announced that production of ATM cash dispensers would continue at its plants in Budapest, Beijing and India.
The Amicus union said Dundee's "loyal" workforce helped NCR achieve a £88m net income towards the end of last year.
However, NCR said that despite the increase, their ATM sector had seen a loss of about £20m in 2006.
The company blamed the "changing market environment" and competitive pressures for the job losses in Dundee.
Amicus officer Gillian McKay said: "Amicus and the Dundee staff are vindicated in their view that NCR's only motivation in switching production to Hungary and closing its Scottish plant is to add to their already huge profits."
Dundee West Labour MP, Jim McGovern, said: "As we witness these large profits all I can do is express my disappointment that a company with this level of profitability is making 650 redundant."
His Scottish Parliament colleague, Kate Maclean, added: "This is going to leave a very bitter taste in the mouths of the people that are going to lose their jobs."
An NCR spokesman said: "The competition we are facing in the ATM marketplace is affecting our profitability. That is why we need to restructure global operations."