The APW engineering company in Oranmore, Galway has gone into receivership with the loss of 135 jobs.
Workers are currently in a meeting with SIPTU representatives.
The company has been operating in Galway for the last 30 years with APW taking over operations seven years ago. It manufactures a wide range of electronic components.
In a statement, the company said that challenging market conditions was the reason for it going into receivership.
A spokesperson said the company would continue to trade as a business until all options were reviewed for the future.
Workers will receive notification of statutory redundancies next week.
