The workforce of car components manufacturing plant IRALCO in Mullingar has been presented with a survival plan for the retention of the majority of jobs at the plant in Collinstown.
The company currently employs around 380 people.
Several hundred employees were told at today's consultation meeting with the joint liquidators of IRALCO, McStay and Luby and prospective new owners C&F Tooling that the survival of the company would involve redundancies.
However no figures or implementation details have been confirmed.
Employees were informed at the meeting that staff numbers would have to be reduced to 320 to ensure the company's viability at the moment.
The proposals are to be put to a ballot of the entire workforce next Tuesday and Wednesday. The outcome of the ballot is expected to be delivered on Thursday.
