One of Blaenau Gwent's biggest employers has announced that it is shedding up to 350 jobs - in addition to 70 cuts already announced.
Around 500 people work at the Ebbw Vale plant
Continental Teves which makes brake calipers for the motor industry is switching production to Slovakia.
The German-owned company said low-volume production for manufacturers like Porsche and Aston Martin will remain in Ebbw Vale.
This will mean a total of 120 jobs will remain in the area.
Most of the work is going to Slovakia, where the company opened a plant three months ago.
There will now be a 90-day consultation period.
A statement from Continental read: "Volume and other reductions in 2006 will lead to the loss of 70 jobs as already planned.
"The proposed relocation could eventually lead to the loss of a further 350 jobs. The majority of the proposed redundancies would not happen for at least one year."
Around 120 jobs will remain in Ebbw Vale and there will be an investment of £2.5m in the plant.
The consultation period will also look at whether government grants should be repaid.
In October 2001, more than 100 new jobs were announced at the plant in Ebbw Vale, with the aid of a Welsh Assembly Government grant.
Enterprise Minister Andrew Davies said the announcement was "clearly disappointing".
"I have spoken to the local management today and have written to the German parent company to discuss the situation, and offer full assistance to explore any options to retain these jobs in Wales."