Up to 60 jobs are being lost at the Fexco plant in Caherciveen, Co Kerry after the company lost a key contract with one of its customers.
The company said the contract was originally due to end in August 2010 but was subsequently extended to May 2011.
'The contract's completion has been known for some time and has been communicated both internally and externally by the company,' it said in a statement.
'The Caherciveen facility continues to operate as an integral part of Fexco's operations and the company is committed to finding a replacement for the contract,' the statement added.
Fexco has over 1,000 workers in Ireland and 1,500 worldwide. It provides money transfer services and support for 10,000 locations in seven European countries. As well as the Caherciveen facility, it also operates from Killorglin in Co Kerry.
