More than 150 jobs are to be lost at pharmaceutical company Pfizer as it sells one of its manufacturing plants in Co Cork.
However, the Loughbeg sale means that between 70 and 80 jobs will remain at the plant.
Pfizer is one of the world's biggest pharmaceutical companies and employs more than 2,000 people in Ireland, most of them in Cork.
In February, 2007 the company announced that following a review of its Irish operations, it was closing one of its manufacturing units at Ringaskiddy and selling two others, one at Loughbeg and the other at Little Island.
More than 500 jobs were affected.
In August, Pfizer said it had failed to find a buyer for the Little Island plant and the company announced that this facility would close by the end of 2009 with the loss of 180 jobs.
Today there was some good news, although the announcement is coloured by the fact that there will be further jobs losses.
Pfizer has said it has succeeded in finding a buyer for its manufacturing plant at Loughbeg, saving up to 80 of the jobs there.
But the remaining 150 jobs will be lost.
The sale to Portugese pharmaceutical company Hovione is expected to be completed in April of next year.
Further jobs losses likely
Up to 35 jobs are hanging in the balance after talks between staff and management at UTV broke down this morning.
The two unions at the company are appealing for the Labour Relations Agency to intervene in the dispute over restructuring.
Elsewhere, Johnston Press, the Scottish newspaper group which owns a number of titles including the News Letter and the Donegal Democrat, announced it was to shed at least eight jobs with the centralisation of its production work.
In a further blow, Tyrone engineering firm Powerscreen has announced temporary lay-offs for 300 of its 485 workforce.
However, there was some good news with the announcement that another Tyrone company, Chieftain Trailers, has landed a massive deal in Eastern Europe worth over €5m.