BOMBARDIER is to cut more than 1,000 jobs in Belfast by the end of next year.
The aerospace giant said 200 employees were at immediate risk of redundancy with a further 380 to be dropped from its support staff.
The company - which currently employs around 5,000 in Belfast, added that another 500 jobs may go in 2017.
The firm has struggled in recent years amid disappointing orders for its new CSeries aircraft, the wings for which are made in Belfast.
A spokeswoman for Bombardier said: "Bombardier Inc announced today that it is taking steps to optimise its workforce in 2016 and 2017.
"In line with this, we have reviewed our requirements in Belfast and regret to confirm that we must adjust our workforce levels downwards by around 580 this year. In addition, we expect to have a further potential reduction of some 500 next year.
"Around 200 Bombardier employee jobs in Northern Ireland are currently at risk of redundancy. The company will be lodging a formal HR1 redundancy notice with the Department for Employment and Learning, following which there will be a 90-day consultation period when we will explore opportunities to mitigate the number of compulsory redundancies.
"In addition, around 380 members of our Complementary Labour Force (CLF) and other agency workers are being released from their assignments with the company in 2016. This includes 60 CLF who already left the company in January.
"We deeply regret the impact this will have on our workforce and their families, but it is crucial that we right-size our business in line with market realities.
"We will continue to evaluate all opportunities to significantly reduce our costs, improve our competitiveness, and boost our profitability, whilst focusing on the unique capabilities that will help shape and secure our future."
Davy Thompson of the Unite union said: "This announcement is the latest cruel blow to Northern Ireland's manufacturing sector. While the scale of the losses reflect the severe market conditions being experienced by the group which has led to over 7,000 job losses globally, heavy manufacturers across the region continue to face challenging times.
"The Northern Ireland Executive needs to redouble their efforts and secure alternative employment for those highly skilled workers who will be made redundant.
"We are calling for all parties to publicly support the call for a manufacturing strategy and establish an investment taskforce for the sector bringing together all stakeholders, including Unite."
Bombardier is Northern Ireland's biggest manufacturing employer but has been hit by a downturn in the business jet market.
It has also been under increasing financial pressure over the production of its new C Series jet.
Globally, the firm is shedding 7,000 jobs.
Gavin Robinson, whose East Belfast constituency includes the Bombardier plant, described the job losses as "devastating".
He said: "Today's announcement is devastating for the Bombardier workforce and their families. My thoughts are with all of those affected and who now face an uncertain future. Those workers must now get any help and support they require to find alternative employment or retraining.
Bombardier still remains an absolutely vital part of the Northern Ireland economy however and I would hope reassurance can be given of the viability of the East Belfast site going forward."
Sinn Fein's Mairtin O Muilleoir called for urgent action to protect the region's manufacturing industry.
He said: "I am distressed at the news that there is to be 580 redundancies at Bombardier given it is one of the biggest manufacturing employers in the North.
"Not only does this impact on those who lose their jobs but also has a knock-on effect on the local economy as these wages are removed.
"I am hoping when the new C Series goes into full production that we can see a reverse of this trend and see employment rise again.
The Rail, Maritime and Transport union said it was "criminal" that 270 jobs were also being cut at the firm's train-building arm in Derby.
General secretary Mick Cash said: "With a desperate shortage of rail rolling stock in Britain it is criminal that jobs are being axed at the UK's last train-building workshop, Bombardier in Derby.
"There is plenty of work for this plant to be doing if the Government had the will to intervene. Contracts for train building are still being shipped overseas, risking the very future of train building in the nation that gave the railways to the world.
"RMT will be writing to ministers demanding that they step in to end this cull of skilled train-building jobs and secure a long-term future for the Derby plant."
Alastair Hamilton, CEO of Invest Northern Ireland, said the scale of the cuts was greater than expected.
He said: "While we were fully aware that Bombardier intended to make cost reductions across its global business, the news of 7,000 jobs, 1,080 in Northern Ireland, is much greater than anticipated.
"We have listened to the company's reasoning for this difficult decision and, while it is hard to hear, we understand why it has had to make this choice."
Bombardier's annual results recorded a significant drop in revenue during the year to December 2015 - down from $20.1 million to $18.2 million.
There was also a slump in pre tax profits - down by 40% to 554 million dollars.
However, the company has secured a new order for 75 of the C-series 300 jets from Air Canada.
