A number of staff working for AXA Insurance in Dublin city centre have been told their jobs are moving to Co Derry.
The workers are currently based at Wolfe Tone Street in Dublin.
They have been informed by the company this afternoon.
A statement from AXA says it operates on an all-island basis, and has decided to consolidate some of its operations in the interests of efficiency and customer service.
It says net losses will be small, but does not give a figure.
SIPTU says it's working with AXA to retain as many jobs as possible at the company.
The union representing workers says it hopes to keep as many positions as possible in the Dublin office.
However SIPTU says if jobs are to be cut - it wants to secure the best possible redundancy terms for its members.
The company says it is confident redundancies can be achieved on a voluntary basis.
