Bombardier makes parts for trains and planes and is to cut 1,300 jobs across the UK
580 job losses have been announced at Bombardier in Belfast.
The plane and train manufacturer is cutting more than 1,300 jobs in the UK.
In addition, the company is not ruling out a further 500 job losses in Belfast next year.
Bombardier is blaming a decline in sales - they fell 10% last year.
Bombardier Aerospace is the largest manufacturing company in Northern Ireland, currently employing 6,000 people.
It produces around 10% of Northern Ireland's total manufacturing exports.
Northern Ireland's unemployment rate stands at 5.8%, which is 0.7 percentage points higher than that of the UK as a whole.
In a recent report, PwC projected Northern Ireland to be the poorest performing of the 12 UK regions in 2016.
400 jobs at the Belfast plant were previously cut in 2014.