Workers at Youghal Carpets in Co Cork have voted to endorse a package of cost-cutting measures aimed at saving the plant.
The proposals were hammered out at talks between unions and management chaired under the auspices of the Labour Relations Commission earlier this week.
SIPTU members at the carpet yarn factory had rejected a cost plan last week which called for 105 redundancies from the workforce of 275.
The company owner, US businessman Mr George Curri, then opted to close the plant as of February 8th of next year.
SIPTU's south-west regional secretary, Mr Joe O'Flynn, said yesterday's endorsement of the new proposals was a necessary, if unpleasant, move in order to keep the plant at Killacloyne open.
"It didn't give us any joy to recommend a rescue package this morning in relation to the terms of the package. But the alternative was to close the plant on the 8th of February," he said.
Mr O'Flynn said that he hoped the union would be able to renegotiate its position with the company if profits increased in the New Year.
Details of the proposals have not been made public but are said to include stringent cost-cutting measures and a reduction in the number of redundancies.
Mandate divisional organiser, Mr Mattie O'Callaghan, said the vote to endorse the package was a satisfactory result from what had been a bleak situation. It is now hoped that management will reverse the decision to close the plant.