38 people are to lose their jobs in Waterford with the proposed closure of Guhring in the city.

The company says that following a strategic review of the group's operations in Europe it is proposing the closure of its manufacturing plant in Waterford on a phased basis over the course of the next two years.

The company says that if the proposals proceed, the plant closure will regrettably result in the loss of up to 38 jobs. It is envisaged that redundancies will take effect in March 2012 and January 2013.

A company spokesperson has said it is hoped that some employees will be given alternative employment within the group.

Guhring in Waterford manufactures precision rotary cutting tools.