The Unite trade union, which represents around 800 workers at consumer healthcare company Haleon in Dungarvan, Co Waterford said its members have voted overwhelmingly to accept a pay deal.
The agreement will see pay increase by 5.5% on 1 January 2024 and by 4% on 1 January 2025.
Haleon was previously known as GlaxoSmithKline Consumer Healthcare.
The deal will also see workers receive a €1,000 tax-free voucher before Christmas this year, followed by two €500 vouchers at Christmas 2024 and 2025.
Last November, Unite lodged a claim for a cost-of-living pay increase.
Members voted to reject a previous Labour Court recommendation.
"In addition to the pay increases for 2024 and 2025, Unite has negotiated significant one-off payments in the form of tax-free vouchers," said Unite regional officer Rob Kelly.
"This is not just good news for the workers and their families, but also for the local economy in Dungarvan and Waterford," Mr Kelly said.
Haleon said it was pleased to have reached an agreement with employees at its Dungarvan site.
"We remain committed to maintaining a positive relationship with our highly skilled workforce and those that represent them," the company said.
