As many as 250 jobs are being axed at Caterpillar factories across Northern Ireland.
The heavy machinery manufacturer has earmarked It's Monkstown plant for closure within the next 12 to 24 months.
The company says it's down to global restructuring and lower demand.
It's not yet clear how this will affect sites in Larne and West Belfast but it's understood they will remain open.
Tom Frake, Caterpillar vice president with responsibilities for Global Power Solutions said: “We recognise that what we are considering is difficult for our employees, their families and the communities where they live and work.
"Despite these contemplated actions, we remain committed to Northern Ireland. In fact, these potential changes would make us more efficient and competitive over the longer term as we adapt to the weak market conditions,” he added
Robert Kennedy, Caterpillar’s director of operations in Northern Ireland adds, “The difficult actions we are considering in Northern Ireland are not a reflection of the quality of our dedicated workforce, the support of the local community, nor the business climate in Northern Ireland.
After consultation with employees and their representatives, any redundant employees will receive severance packages from the company and outplacement services from appropriate agencies to ensure they have support during this transition.
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