German electronic component manufacturer, Kostal, is to temporarily close its Cork and Limerick plants which employ over one thousand people.
Kostal, which has operating facilities in Mallow and Abbeyfeale, are to close their two Irish facilities until April 27 arising out of economic fallout from the Coronavirus.
The final shift at the plants will occur tomorrow.
It is understood the decision followed the widespread shutdown of major car production plants in the UK and Europe arising out of the crisis.
Kostal is a leading producer of electronic and mechanical components for the automotive sector.
The firm has established itself as one of the largest employers in Munster.
The plant shutdowns are occurring because of the fall-out from the European and global car industry arising out of the pandemic.
The company source said that both the firm and its employees are "severely impacted because of this (virus) event."
Amongst the products made by Kostal are components for the next-generation of plug-in hybrid and and all-electric vehicles.
Kostal Ireland currently has 1,038 employees. 693 employees are based in Abbeyfeale with 345 employees in the Mallow plant.