Caterpillar, the US manufacturing firm, is planning to cut 700 jobs at its Northern Ireland operations.
The job losses will predominantly affect workers at its plant in Larne, County Antrim.
The company said the move is unrelated to Brexit and Covid-19, or the end of furlough schemes.
The job losses are expected to happen over the next 18 months and would leave the firm with 900 staff in Northern Ireland.
In a statement, the firm said its aim was to “improve cost competitiveness” and make better use of its existing capacity.
The company added it was also “considering the sale” of its Millennium office building in the Springvale Business Park in west Belfast.
If that sale goes ahead, it said the remaining employees in west Belfast would be “relocated” to its Larne plant.
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