Union representatives are meeting management at GlaxoSmithKline today to seek a commitment that there will be no compulsory redundancies at its Waterford plant.

The healthcare giant yesterday said it would cut 130 jobs from its workforce in Dungarvan in the next four years.

Forty-eight jobs will go when the company moves the manufacturing of some of its Panadol products from Dungarvan to Spain between 2012 and 2014. Eighty-two people are to be made redundant in the next two years as part of a cost-cutting programme.

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

About 570 jobs will remain in Dungarvan following the redundancies. GlaxoSmithKline said it remained to committed to its Irish operations.

Company vice-president and site director Mike Willison described the job losses as "regrettable" but said they were part of a cost-containment package aimed at achieving "significant savings" in overheads.

"Our aim is to remain focused on the long-term future of the site and ensure that we remain competitive," he said.

The announcement came following a restructuring review of operations at the company's Dungarvan plants, which manufacture oral care products in one centre and painkillers at another.

GlaxoSmithKline currently employs more than 1,500 people in Ireland – almost half of them in Dungarvan, where it is the area's largest employer. Other employees are based in centres in Dublin, Cork and Sligo.

In 2008, GlaxoSmithKline announced a €30 million investment in its Dungarvan operations, which it said would create 50 jobs over three years.

Unite regional organiser Tony Kelly said staff were in shock. "This is a very difficult day for workers who have contributed without fail to the continued profitability of the company," he said.

"The union will be using its meetings with management to try to prevent compulsory redundancies and determine the detail of the cuts."

"We will work hard to soften what is a terrible blow to those affected and to Dungarvan."

Fine Gael TD for Waterford Paudie Coffey described the development as disappointing and called on the multinational to implement the redundancies on a voluntary basis.

"Solace can be taken from the company's stated commitment to the long-term future of the site and the fact that the restructuring proposals are to be subject to employee consultation," he said.