Canadian aircraft manufacturer Bombardier will lay off up to 1,200 staff at its Belfast plant later this year, the firm said yesterday.
About 600 jobs will be lost by June as the company seeks to cut costs following the announcement earlier this week that it would not meet financial targets.
Bombardier, which has already shed 1,300 jobs in Belfast over the past year, said it was making the extra job cuts due to "challenging market conditions".
The job losses at Bombardier follow mass redundancies at Harland & Wolff, another major employer in east Belfast. Business organisations and local politicians described the news as a "tragedy" for the area and staff.
Mr Peter Robinson, the Democratic Unionist Party deputy leader, said he had made arrangements to meet management to see what could be done.
"There is no doubt that there is a worldwide downturn in the industry, but we must ensure that Northern Ireland is not bearing the brunt of redundancies."
In a statement to the media yesterday, Bombardier said a total of 3,000 jobs would be lost at sites in Belfast, Toronto and Montreal. However, local management in Belfast confirmed that 1,180 jobs were at risk in Belfast.
The aircraft company said it deeply regretted having to lose valued employees and it would begin a 90-day consultation period with trade unions shortly.
Mr Pierre Beaudoin, president and chief operating officer, Bombardier Aerospace, said the firm had a responsibility to take aggressive actions in view of the challenging market conditions.
"Along with the most diversified line of innovative products, Bombardier Aerospace will emerge stronger as the premier manufacturer of the world's finest aircraft," he said.
Bombardier is one of the biggest employers in Northern Ireland and currently has a staff of 6,200 employed at its manufacturing operations. It employs a further 300 staff at the adjoining Belfast City Airport which is in the process of being sold. Bids from some potential buyers are currently being assessed.
Bombardier, which employs about 75,000 workers worldwide, issued a profit warning on Tuesday, amid continuing turmoil in the global airline market.
The threat of war with Iraq and the recent announcement that United Airlines is in administration are two of the most likely causes of the market slump, according to analysts.
East Belfast independent councillor Mr Frankie Gallagher, said the area had been hit again when it was still getting over Harland and Wolff layoffs. - (Additional reporting PA)
