Philips Electronics is to close its European accountancy services centre in Leopardstown, Co Dublin, with the loss of 150 jobs.
The company says it intends to move its operation to Poland. Staff were told of the decision this morning.
Philips employs a further 300 people in Ireland in software development and wholesale distribution. These jobs are unaffected. Its accountancy services operation was established in 1999 to carry out back office work for Philips' companies throughout Europe. Between 60% and 70% of staff are non-nationals.
A spokesman for the company said wage levels in Poland were less than half those in Ireland. The general manager of the Leopardstown operation Remco Steenbergen said in a statement that Poland offered cost advantages that were 'impossible to ignore'.
Philips plans to close its operation by June and hopes to be able to relocate up to 50 staff to other Philips operations in Europe.
