Honeywell Turbo Technologies in Waterford has announced the loss of 29 jobs.

Honeywell said the global automotive industry has become increasingly competitive and the company must continually review its business structure to increase its competitiveness.

The company said that due to forecasted reductions in demand for its products, it has have informed employees at its Waterford facility that it will begin discussions on a voluntary redundancy programme to reduce its current workforce by up to 29 positions.

Honeywell manufactures engine boosting systems for passenger cars and commercial vehicles.

The Waterford facility at the industrial estate on the Cork Road produces turbine, compressor and SST wheels for turbochargers.