Coty has confirmed that its plant in Nenagh, Co Tipperary, will close by the end of 2018 with the loss of around 200 jobs.
In a statement this afternoon, the company said it had carried out a detailed study of its global manufacturing and is to consolidate its cosmetics operations resulting in the closure of the Nenagh plant.
The decision comes following the merger with P&G Specialty Beauty brands.
P&G merged with Coty last year making it one of the biggest beauty companies in the world with revenues of over €9bn.
There were concerns that the merger may have implications for the plant down the line.
Staff were informed of the decision earlier today in a meeting at the plant.
The plant has been one of the town's biggest employers since the late 1970s, having had a workforce of over 500 at its height.
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Hair and fragrance brands such as Calvin Klein, Clairol, Wella, Max Factor and Rimmel are all part of its product range.
Juan Miguel Pacheco, Plant Manager at Nenagh said he is committed to fully supporting colleagues in Nenagh through the coming months.
"Our priority is to work closely with them and their families throughout the consultation and to ensure that everyone is treated fairly and with respect."
Minister for Social Protection Leo Varadkar said in a statement: "Our goal is to ensure that all staff affected can move smoothly into new employment or training.
"I want to assure everyone affected that the Department of Social Protection officials are determined to help them to get through this difficult period, and identify the supports they need to get back into employment again as quickly as possible."
Nenagh Chamber of Commerce vice president Denis Finnerty said the job losses were a huge loss for the local workforce and their families.
Speaking to RTÉ's News at One, Mr Finnerty said the worst fears of everybody had been realised and he hoped the company would treat the workers fairly and with respect.
He said re-skilling would be necessary for many and a plan was needed to be put in place to ensure they would get "dignified" employment.
Mr Finnerty said national development needs to go beyond the eastern seaboard and it would not be easy for people losing their jobs to get work in the area.
He said many would be forced to commute or travel to the UK.
Responding to the company's announcement, SIPTU sector organiser Alan O'Leary said: "This is a devastating blow to the workers concerned. While our members were made aware of a review of operations by Coty management over the past year, the closure decision was unexpected.
"We will now meet with company management to discuss the outcome of the review and we expect to enter intensive talks to consider ways of minimising the proposed job cuts."
