Pharmaceutical company Bristol-Myers Squibb is to close its manufacturing facility in Cruiserath in Dublin by the end of 2015 with the loss of 130 jobs, while a further 30 jobs are to go at its Swords plant.

In a statement this afternoon, the company said the decision reflects the changing market demand for a number of products manufactured at the site.

Bristol-Myers Squibb will continue manufacturing at the Cruiserath facility until the end of next year.

The company's other manufacturing facility in Swords will continue operations, but a single operating unit will cease manufacturing by the end of 2015, resulting in 30 job losses.

The company said the closure of this operating unit in Swords is part of ongoing optimisation in its manufacturing network.

The Swords facility, which employs over 320 people, will remain a key supplier of bulk pharmaceuticals, the company said.

General Manager API Operations Ireland Susan Hynes said: "The company is working with IDA Ireland to explore potential future uses of the Cruiserath facility and will endeavour to minimise job losses in Ireland."

SIPTU has requested an urgent meeting with management following the announcement.

SIPTU represents over 100 workers in the Swords facility.