Despite the numerous meetings, the result was a "protocol of no agreement", which will be filed at the National Conciliation Office and Ministry of Employment next Monday.
Paul Peckels, the managing director of the Saint-Paul Group, told employees that six of the 80 jobs would be retained, in an email circulated among 300 members of staff.
Peckels added that the unions' demands had been unrealistic on a financial level, which contributed to the failed negotiations.
A protest picket has been announced following the negotiating period.
Peckels concluded his message by expressing his regret at the situation and said he was ready to resume discussions.
