Some 130 jobs are to go at at Glaxosmithkline in Waterford, it was announced today.

Staff were told of the plans at a meeting with management this afternoon.

Union officials said 48 job losses were due to the transfer of manufacturing of one product to Spain. More than 80 jobs are to go in the next 18 months as the company tries to cut costs.

More than 700 people are employed at Glaxosmithkline's operations in Dungarvan, which manufactures over-the-counter drugs. In 2008, the company announced at €30 million expansion to the Waterford operation, which was to create 50 high-tech jobs over three years.

Trade union Unite, which represents more than 500 workers at the facility, said it would meet company rpresentatives tomorrow. It said it was seeking an undertaking from Glaxosmithkline that there would be no compulsory redundancies.

“This is a very difficult day for workers who have contributed without fail to the continued profitability of the company,” said Unite regional officer Tony Kelly.

“There is now great uncertainty among the workforce and the community.”

Fianna Fáil spokesman on jobs Willie O'Dea said it was "devastating news" for the community in Dungarvan.

"It is very easy to see how a tight-knit community like this will be reeling from this announcement. The news is equivalent to the Dell job losses in Limerick in terms of the effect it will have on the local economy."

Mr O'Dea said he knew from the experiences of his own community in Limerick city that significant job losses have a detrimental effect on spending in the economy and have a knock-on effect on other businesses.