The US-owned business did not say how many roles were at risk.
But the Belfast Telegraph understands Terex Materials Processing will be seeking to make 130 roles redundant across its main premises in Omagh and Dungannon. A smaller number are under threat at its plant in Farlough Road in Dungannon.
The business, which makes materials processing machinery and aerial work platforms, is one of the Northern Ireland manufacturing sector’s most significant businesses. As well as Omagh and Dungannon, it also has premises in Ballymoney and Campsie, Co Londonderry.
In a statement on Monday, the company said: “As Terex continues to navigate market fluctuations, we have observed that the extraordinary surge in demand and backlog following the Covid-19 pandemic, which resulted in outstanding performance in 2023, has now stabilised.
“This has led to reduced demand from key global markets. As a consequence, Terex has carefully reassessed its operational needs to align with the current market conditions and ensure viability and competitiveness of the business going forward.
“Several actions have been taken, including non-replacement of job roles and reducing overtime and travel.
“This review has now led to the difficult decision to begin a consultation process with our team members, which will involve a reduction of our workforce.”
It added: “As a global company with a strong presence in the UK and Northern Ireland for over 25 years, Terex has extensive experience managing cyclical market challenges.
“Our broad portfolio positions us to navigate this challenging period while continuing to develop new products and explore new markets.
“This approach, along with the above actions, will ensure our leadership position in the industry, allowing us to remain a significant local employer in the region for the longer term.
“Despite this, we understand that this is an unsettling time for our team members and are committed to supporting them throughout this process.
“Our primary focus is to minimise job losses while managing these changes with transparency and respect for everyone involved.
“We thank our team members for their continued dedication and hard work during these more challenging times.”
Stephen Kelly, chief executive of Manufacturing NI, said circumstances were difficult for the sector in which Terex operates.
“The crushing and screening industry has had a very severe global downturn in the last nine months due to a number of factors including war in Europe, interest rates, etc.
“There is also a need to balance books in the midst of cost of doing business crisis. Managing inflation and wage rises is very tricky when demand had slumped.
“That engineering sector has been holding on to people for as long as possible given the scarcity of supply of skills and labour, but inevitably something has to give.”
News Catch Up: Monday 15 July 2024