Production at the Melbourne-based Spotswood plant is largely geared at making glass bottles for the beer and wine industry.
The closure of one furnace comes as a result of a fall in demand for beer and wine production nationally, the ABC reports.
The Spotswood plant employs about 320 people. Approximately 50 glass manufacturing jobs are estimated to go. Other jobs on the line include trade and engineering roles, news.com.au reports.
The Spotswood furnace will close at the end of March. Workers will be laid off by June.