The factory in the Tollcross area of the city supports almost 500 jobs, but owners Pladis have blamed “excess capacity” at other UK sites as a reason for the planned closure.
An action group of unions, the Scottish Government, Glasgow City Council and other interested parties put together an alternative, which would see a new factory built on another site.
But on Wednesday, the company announced it would be shuttering the factory after almost 100 years in operation.
Pladis UK director David Murray told the Daily Record: “We know this news will be difficult for our colleagues at Tollcross, so it is with regret that we announce our intention to proceed with the proposal to close the site.
“Our priority is to provide employees with the on-going support they need as we continue with the consultation.
“Pladis is home to some of Britain’s best loved brands which have been part of the fabric of our society for nearly 200 years. In order to protect them for generations to come, we must take steps to address excess capacity in the UK.”
Labour MSP Paul Sweeney accused the owners of rejecting the proposal “out of hand” and failing “to engage constructively”.
“This news will come as a body blow for the workforce at McVitie’s,” he said.
“The proposal would have seen manufacturing continue in the East End, ensuring continued employment in a community that has borne the brunt of austerity.
“Pladis stated that they wanted to make efficiency savings, which is exactly what this proposal delivered, yet the company still see fit to simply dismiss it.
“I couldn’t be more disappointed – there are nearly 500 jobs at stake here in a community that simply cannot afford to lose them.
“While I appreciate that the First Minister has personally intervened, the Scottish Government must now step up and use every power at its disposal to save these jobs.
“If that means introducing a comprehensive state aid package then that’s exactly what needs to happen.”