The company is based in Shannon and provides in-flight food services for airlines using Shannon airport.
The company has announced that it has purchased the old Avoca site in Bunratty and plans to open a café and a retail premises on the site.
EFG hope to create up to 50 jobs between the planned new retail centre in Bunratty and the existing centre in Shannon. The company currently employ up to 100 people in Shannon.
But Alps Electric Ireland has confirmed that between 30 and 40 people are to be let go over the coming weeks.
The Japanese-owned company, based in Millstreet in County Cork, employs around 550 people at its plant in County Cork. Alps manufactures electrical components for the car industry.
A company spokesman said that between 200 and 300 people were hired over the past two years to clear a backlog in customer demand worldwide.
He said these staff were specifically hired to catch up on orders and were aware their employment was short-term. He accepted, however, that the news was upsetting for employees. Staff were briefed at a meeting on the site last week.
