Boston Scientific is to close its plant in Tullamore, Co Offaly, with the loss of 240 jobs.
The news was broken to workers at the US medical devices company’s factory this afternoon.
In a statement, Boston Scientific said the proposed closure follows the acquisition of Boston Scientifics' fluid management business in February by Avista Capital Partners.
Avista has chosen to transfer manufacturing of these products from Tullamore to its existing manufacturing facility in the US.
Boston Scientific's remaining products, currently manufactured in Tullamore, will be transferred and manufactured in the future at its existing facility in Cork.
Boston Scientific, which employs more than 5,000 people in Ireland, will finish up in Offaly next year.
The announcement has been greeted with shock in Tullamore. Sean O'Brien, chairman of Tullamore Town Council, said the news was 'devastating' for Tullamore.
Mr O'Brien said that even though the company was offering alternative employment at the plant in Cork, it would simply not be practical for Offaly workers to transfer their jobs there.
