Food group Jacob Fruitfield has lifted its threat to close the Jacob's biscuit factory in Tallaght in Dublin.
The company's board met to review the situation after workers voted to accept new working arrangements to help to secure the future viability of the plant.
Chief executive Michael Carey, who is also the group's majority shareholder, welcomed the decision.
He said: 'We can now look forward with renewed optimism that we can further develop and grow the business as we had planned.’
Jacob Fruitfield was formed in August 2004 after Fruitfield bought Irish Biscuits from French group Danone.
At the beginning of last month Jacob Fruitfield said it was concerned about future trading. It said recent trading had been 'challenging' with intense competition from imported biscuits, sauces and confectionery.
