Aircraft company Bombardier is to suspend compulsory redundancies at its Northern Ireland plants.
Union leaders said the firm would also offer to reinstate 32 workers who had lost their jobs.
Bombardier is a major employer in Northern Ireland but has been undergoing global restructuring.
Susan Fitzgerald, Unite regional co-ordinator, said: "This is great news for those workers and their families.
"It reflects the determination of the workforce to challenge the ongoing erosion of jobs and skills across the company sites in Northern Ireland."
Last November the company announced that almost 500 jobs were to go in Northern Ireland in a bid to cut costs and improve efficiency to help ensure its long-term competitiveness.