The Partnership Agreements were a big part of the sales patter of the IDA to foreign investors. They promised economic stability, not industrial action and so on.
The Partnership Agreements over time grew sideways to include all kinds of non-wages/work social items - anti-poverty actions and so on. This last aspect was I think rightly criticised as being anti-democratic as those things would have previously gone through the Dail rather than be wrapped up in a closed doors negotiation.
The end of the agreements, if it is the end, is a big change, and opens up a lot more uncertainty in an already very volatile climate.