The company employs 500 people in Motherwell
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About 80 jobs are to go at a manufacturing facility in North Lanarkshire, it has been confirmed.
Global technology and manufacturing business Honeywell told staff at its Newhouse plant in Motherwell the move was part of a cost cutting measure.
Manufacturing and support roles in the Sensing and Control and Environment Control and Combustion departments will be affected.
A spokeswoman for the company said a 30-day consultation was under way.
Zekie Dennehy, the company's corporate communications manager, said the move was part of the company's ongoing business practice.
Speaking from Honeywell's office in the Czech Republic she said: "This unfortunate step is necessary to ensure cost structure is in line with our demand."
Local MSP, Mr McMahon said: ""Each job lost is a personal tragedy and my thoughts are with those affected by this decision.
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I was pleased to here that the management remain positive about the company's long-term viability and I hope that the future of the remaining employees is secure
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"All the assistance available must be delivered through the Government and I will be pressing for this to happen.
"I have contacted the company who have stressed that this measure does not reflect on their plant or functional performance at Newhouse.
"I was pleased to hear that the management remain positive about the company's long-term viability and I hope that the future of the remaining employees is secure."
Central Scotland SNP MSP Alex Neil said: "Whilst these job losses will be devastating I welcome Honeywell's commitment to the future of this plant and will be seeking a meeting with Honeywell as soon as possible.
"I am glad to hear Finance Secretary John Swinney in his budget speech commit to increasing the support for people facing unemployment and am confident this will benefit those affected by today's announcement."
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