300 jobs are to be lost with the closure of Carelon Global Solutions Ireland in Castletroy in Limerick.
The health technology company said that after carefully considering alternatives and conducting a consultation process with employee representatives, it had made the difficult decision to cease operations.
"The process to close operations will occur over the course of the next several months, and we expect it to be completed by the end of 2025," a spokesperson said.
"We greatly appreciate the work and dedication from associates in Ireland over the past few years and are committed to supporting them during this time," the company added.
Carelon, formerly known as Legato Health Technologies, has had a presence in Ireland, based in Limerick, since 2021.
The company provides digital integrated solutions for the healthcare industry, and is involved in information technology solutions, data analytics and business process systems.
There had been concerns over the future of the jobs for a number weeks.
Carelon previously said it was considering its future in Ireland after a review of its business operations, and an examination of the changing healthcare landscape globally.
Carelon also has a presence in India, the Philippines and Puerto Rico.
It is part of the larger Elevance Health group which owns a number of health organisations involved in the commercial and medicare areas, including the Anthem Blue cross and Blue Shield company, and the Wellpoint company.
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Labour's Limerick TD Conor Sheehan urged Carelon to engage with trade unions and give workers "clarity" on what will happen next.
"These are dedicated staff who have contributed to the company’s success, and they deserve more than silence or ambiguity in return.
"Carelon must recognise the human impact of this closure and act swiftly. The workers must be given clarity on what comes next," he said.
Mr Sheehan added that his office is open to any workers who require advice or support.
Additional reporting Petula Martyn
