JET ENGINE maker Lufthansa Technik has served more than 400 staff at its Dublin factory with redundancy just a week before Christmas.
The company has begun the process of closing its factory in Rathcoole in Dublin, with the loss of 411 jobs.
It was founded in 1980 but was only fully acquired by Lufthansa in 1999.
The decision to close follows an “extensive review” of the facility, according to a spokesperson.
The Irish operation, the person said, was determined to be not commercially viable amid heavily declining revenues and dwindling market demand for the type of jets worked on at the factory.
It is understood a takeover bid from another company had not led to any acceptable offer.
Lufthansa has two other operations in Ireland that will not be affected by the decision.
They are both in Shannon.