PayPal is set to cut more than 300 jobs from its offices in Dublin and Dundalk.
The company told employees on Tuesday that it is to begin a consultation with impacted staff.
A total of 135 of the positions are based in the Blanchardstown offices, and 172 are in Co Louth.
A spokesman for the firm said: “PayPal remains committed to Ireland and our Dublin and Dundalk sites will continue to be among our largest global centres for employment and operations, supporting our customers.
The company has assured me that PayPal remains committed to Ireland and the remaining 2,000 staff the company will continue to employ here.Leo Varadkar
“We will continue to employ well over 2,000 employees after the proposed changes.”
The spokesman said the firm is looking at changes that “may be necessary” to shape the business, and added that the decision is not in response to economic conditions.
“We are offering enhanced redundancy and support packages to help them as they move to the next step in their careers,” he said.
Minister for Enterprise Leo Varadkar said the news will come as a real shock to the staff.
“I have spoken with the PayPal leadership team and expressed my disappointment at the decision and the impact it will have on their employees,” he added.
“The company has assured me that PayPal remains committed to Ireland and the remaining 2,000 staff the company will continue to employ here.
“Consultation with staff will begin this Thursday and I understand all 307 redundancies will be initially sought on a voluntary basis and a good redundancy package will be made available.
“I’m very conscious of the workers and their families receiving this news today.
“I know this is coming on top of what has been a very difficult couple of years for everyone and will be very worrying. Our goal is to create a job for everyone that wants one – secure, well-paid, sustainable jobs located in every county in the country.
“We are working hard to reach this goal and have set ourselves the target of 2.5 million people at work by 2024, which would be the highest level of employment in the state.
“The Government will make all necessary state assistance available to the workers, to help them find new employment, education and training opportunities as soon as possible.”