The APW engineering company in Oranmore in Galway has gone into receivership with the loss of 135 jobs.
Workers are meeting with SIPTU representatives to discuss the news.
The company has been operating in Galway for the last 30 years with APW taking over operations seven years ago.
In a statement issued on behalf of APW, the company said that challenging market conditions were the reasons why it was going into receivership.
A spokesperson said the company would continue to trade as a business until all options were reviewed for the future.
Workers will receive notification of statutory redundancies next week.
APW Galway manufactures a wide range of electronic components.
