The firm's carpets are sent all over the world
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A trade union is pressing for a meeting with the management of Ulster Carpets in Portadown, after the company announced 35 job cuts at its factory.
The company blamed the job losses on the "global economic downturn" which it said had impacted on its order book.
Sean McKeever, from the Unite union, said its members had not been expecting the announcement.
"Obviously this is a devastating blow to our members within Ulster Carpets," he said.
"It comes as quite a shock, bearing in mind announcements Ulster Carpets had made a number of months ago about savings that were made in energy - up to three quarters of a million pounds - and also a £15m investment package."
On Monday, Ulster Carpets said it hoped to avoid any compulsory redundancies and had started "statutory consultation with the trade union".
Managing director Nick Coburn said: "We make this announcement with great regret and after all other options have been exhausted."
He said that the global financial turmoil had taken "a heavy toll on consumers and businesses leading to a need to cut production levels for the foreseeable future".
The company said it was offering an extensive redundancy package with both an enhanced element and ex-gratia payment.
It added that counselling and training for new job applications would be provided for anyone affected by the redundancies.
Ulster Carpets currently employs more than 400 people at its factory in Portadown.
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