As many as 72 jobs are at risk at PayPal in Dundalk.
There could be up to 131 jobs lost at the online payments firm operations in Dundalk and Dublin.
Employees were briefed about the situation this morning, Wednesday, and it is understood impacted workers will be able to apply for other jobs within the company, or for an enhanced voluntary redundancy package.
Dundalk Deputy Ruairí Ó Murchú, reacting to the potential job losses at PayPal said: "Firstly, my thoughts, and those of my Louth colleague, Deputy Imelda Munster, are with the staff who have been affected by this announcement today.
"There are 72 people in Dundalk who have been told that their jobs are under threat.
"This is disappointing and worrying news from PayPal, but they have been strident in voicing their commitment to Dundalk and Dublin.
"PayPal met with the government and the IDA and I want to hear that the government and the IDA have done everything in their power to try to ensure that as many jobs as possible are saved.
"I will also speak to the IDA about this matter.
"PayPal is an extremely profitable, multi-billion dollar global company that has enjoyed a boost from the increase of customer payments for online goods during the lockdown.
"The workforce in Dundalk has been extraordinary in their willingness to show flexibility, working from home and engaging with their colleagues and customers online.
"I want the company to reflect on that fact.
"I understand there is a consultation process taking place this week and I welcome that.
"However, while the staff directly affected had been briefed this morning, I have made senior management aware that the entire staff cohort had not been told there are job losses in the company, before the news broke online.
"The company has told me they will be innovative in assisting staff in retraining and staff care.
"I am informed there will be a voluntary redundancy scheme and I hope it will be sufficient to allow some people to take .
"I will continue conversations with the company as this progresses and I will liaise with constituents to offer any support and help I can.
"There are no unions in PayPal.
"I hope PayPal will put the needs of these staff first and return in kind the loyalty and flexibility shown to them by the workforce of more than 2700 in the State."
PayPal said it is proposing to relocate a selection of roles in a limited number of operational teams at its sites in Dundalk and Dublin to other global locations following a review of its operational needs and the proposal is subject to consultation.
"Employees impacted by the proposed changes will have the opportunity to apply for new roles within PayPal locally", a spokesman for PayPal said.
"The company is offering impacted employees the option to volunteer for redundancy, with enhanced redundancy and support packages to help them as they move to the next step in their careers.
"PayPal is providing additional programmes to provide further support as they move to the next step in their careers.
"PayPal will ensure that any colleagues who leave are respected for their contributions and treated fairly in accordance with the company’s values."
The spokesman for the company said that PayPal remains committed to Ireland and their sites at Dublin and Dundalk will remain two of PayPal’s largest global centres for employment as critical hubs for the company’s global operations.