Argos operates a bespoke model in the Republic of Ireland, unlike its UK stores.
There will be no changes to the retailer’s operations in Northern Ireland, Scotland, England and Wales, the company said.
Argos is doing well in its UK stores, the statement said.
‘The decision was not taken lightly’
The statement said the company was proposing enhanced redundancies for employees who “far exceeded their statutory obligations”.
The small number of employees who are not eligible for redundancy under Irish law will receive a one-off good-faith payment, the company said.
Argos Ireland operations manager Andy McClelland said: “We have not taken this decision lightly and we are doing everything we can to support those affected.”
“On behalf of everyone at Argos, I would like to thank our colleagues, customers, suppliers and partners for their support of our business,” he added.
Argos stores will remain open to customers in the Republic of Ireland until 24 June.
After 22 March 2023, customers in Ireland will no longer be able to pay for orders through the Argos website or place orders through its home delivery service.
Orders placed as of that date will continue to be fulfilled and customers will still be able to pre-order products online and pay in-store until the business closes.
After-sales, returns, refunds and exchanges policies will continue to apply until Argos stores are closed.
Michael Meegan, from the Mandate union, said it was a “difficult” day for staff.
She added that the union will work with the company to “get the best deal for the workers who are made redundant”.