Brendan Howlin has announced plans to step down as Labour leader.
The Wexford TD made the announcement at the party's Parliamentary Party earlier.
Labour took a hammering in the general election, leaving it with six seats and a 4.4% share of the vote.
Howlin said the party has decided it won't be a formal part of the next government, but is open to supporting it from the opposition benches on certain votes.
A leadership contest will now get underway. Only sitting TDs can be elected Labour leader.
They can nominate themselves but need a seconder from the parliamentary party. It then goes to a popular vote.
Alan Kelly, Ged Nash and Aodan O'Riordain are the favourites to contest for the Labour leadership.