Procter & Gamble, which employs 600 people at its manufacturing operation in Nenagh, Co Tipperary, has declined to comment on a report that it may cut its workforce by 10 to 20 per cent.

According to the Wall Street Journal, the company, which manufactures cosmetics and skincare products in the Republic, may shed part of its 110,000-strong workforce worldwide.

Procter & Gamble has been manufacturing in Nenagh since 1985. The Irish operation, which has seen its workforce grow by 250 following an investment of £21 million over the last two years, is not thought likely to be affected in the event of cutbacks.