An engineering company in Hereford has announced plans for an expected cut in the workforce of about 80 jobs.
Special Metals Wiggin said it did not think there would be "any significant improvement" in market conditions for "some considerable time".
The firm, which has been at Holmer Road for more than 40 years, said it employs about 700 people there at the moment.
Consultations had begun with union representatives over an anticipated cut in the hourly-paid workforce, it added.
In a statement, Special Metals Wiggin said following the downturn in global manufacturing, it had been "doing everything possible to win a bigger share of the business that is available".
It added: "It is now clear that the anticipated order intake levels for several of our products groups have decreased.
"The recent financial crisis has added to the future uncertainty."
The company at Hereford is the major European production facility in the Special Metals group.