120 jobs are to go at Amann Industries Corporation in Tralee, Co Kerry.
The thread manufacturer has announced that management will enter into immediate consultation with employee representatives to reduce the workforce from 340 to 220 over the year.
The workforce, based at the Clash Industrial Estate, was informed of the decision this afternoon.
Killarney's Quality Inn Hotel to close
A further 50 jobs have been lost in Killarney in Co Kerry, with the announcement that the Quality Inn Hotel is to close.
The director has decided that the operators of the hotel, Carvanna Properties, is to go into liquidation and a creditors meeting is to be held on 30 January
The company has sited financial and trading difficulties.
The hotel, formally known as the Killarney Ryan Hotel, was one of Killarney's best known hotels and workers were told of the decision this afternoon.
The hotel will cease trading this Sunday.