Staff at Bausch and Lomb in Waterford will find out in the middle of June if they're losing their job or taking a pay cut.
200 positions will be lost at the contact lens maker's factory, with the risk of the remaining 900 jobs being shed unless workers accept a 20% pay cut.
Yesterday The Minister for Jobs said his department and the IDA had been engaged in talks for several months with the company.
Richard Bruton says they have proposals ready for substantial financial support for a major investment in the plant in order to secure it's future in Waterford.
The workers are reportedly still coming to terms with yesterday's shock announcement:
CEO of Waterford Chamber of Commerce, Nick Donnelly says the cuts will have a devastating impact on people and the local economy:
