More than 160 jobs are to go at a pharmaceutical plant in west Cork.
Staff at Schering-Plough, which is based at Brinny near Innishannon, were told by management this lunchtime that the workforce is to be reduced from around 700 to 545 over the next three months.
The job losses will be among both manufacturing and administrative staff.
It is the second announcement of job losses at the plant in just over a year. Last January the company cut 170 jobs after a drop in demand for its anti-cancer and anti-viral medicine.
Schering-Plough has blamed a build-up of stock produced in Cork for the latest lay-offs, after projected sales growth failed to materialise.
Globally the company is also in trouble, having recorded losses of almost three-quarters of a billion euro in 2004.
The company operates two other plants in Wicklow; they will not be affected by today's announcement.
