The medical device manufacturer Abbott is asking for 200 voluntary redundancies from staff, and will not renew some contractor positions.
Staff were called to a meeting by management at the plant on just before 4 this afternoon.
They were informed that the Company would be seeking 206 voluntary redundancies, while 39 Temporary contracts will also not be renewed.
These cuts will be implemented by the end of March.
Staff say there were not surprised by the announcement but were saddened to hear of the extent of job losses.
They are now being offered 6 weeks statutary redundancy.
In a statement this evening, Abbott says the redundancies are part of adjustments which are needed to ensure the business evolves and remains competitive.
The company employs 14 hundred people at its plant on the Cashel road in Clonmel.