The development comes on top of 900 redundancies two years ago at the company.
At staff meetings this afternoon workers are being informed that 140 redundancies would be sought in Blanchardstown in Dublin, 75 in Cavan town and 70 in Enniskillen.
Approximately 500 people currently work in each location.
The company has told staff the development is necessary to secure the future of the company.
The redundancies are voluntary but the company has not ruled out compulsory job losses.
In a related development the company is to enter the insurance market in the Northern Ireland and Britain.
In the past 12 months the company had serviced this business on behalf of the administrators of Quinn insurance.
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