Cider maker Bulmers says it is to cut 103 jobs at its plant in Clonmel.
A further 11 jobs will be shed in Dublin and seven in Belfast.
Aidan Murphy, Managing Director of supply at C&C Group, told staff this morning that the jobs will go through voluntary redundancies.
Up to 50 management jobs and 40 operator jobs will go.
Mr Murphy said: 'Today is a very difficult day for the company as we implement a number of redundancies, right across the business.
'This action is necessary in order to protect future jobs and safeguard the viability of the company.'
Two years ago, Bulmers employed more than 600 workers, but a downturn in the sale of cider had seen that number reduced to 417 by this month.
Local Fine Gael TD Tom Hayes said: 'This is just the latest in a long list of blows which have confirmed south Tipperary as one of the worst unemployment black spots in the country.
It is a particularly bleak day for the 120 staff who are losing their jobs. These workers and their families still have mortgages to pay, children to get through school and the tough task of finding another job.'