Shannon Aerospace says it is cutting 107 jobs from its Shannon Airport based business as part of a wider restructuring programme for the company.

Announcing the cuts this morning Thomas Ruckert, managing director of the Shannon company ,said this is the most difficult day ever experienced by Shannon Aerospace in its 20-year history.

But he said that both domestic and international aerospace markets have changed significantly and the volume of work has declined considerably.

Mr Ruckert said the company's current cost base is not only too high but also unsustainable and to survive in this market place it is vital that it reduces costs and improve its competitiveness.

'In order to do this we have to restructure and this means implementing a number of redundancies to safeguard the future of the company in Ireland and protect the maximum number of jobs in the Shannon region,' he said.

In a further jobs blow to the Shannon region, the Elsevier Company - which produces scientific and medical journals - is seeking 100 redundancies from its workforce of 108.

The company says the cuts are as a result of a re-organisation of its global journal production and customer support operations. It said it was consolidating these functions at a number of small locations.

22 redundancies at Elan's Athlone plant

A spokesperson for Elan has confirmed that the company is seeking 22 redundancies by the end of the year at its Monksland plant in Athlone.

The spokesperson said the reason for the redundancies was a combination of some changes made to product mix, operating efficiencies over the past couple of years. Manufacturing volumes are also expected to be flat for the next couple of years.

Staff at the Monksland plant have been briefed by the company and it is hoped that the redundancies will be voluntary.

Elan employs 400 people at the drugs manufacturing plant in Athlone.