The axe is set to fall on about a quarter of the workforce at Sheppey’s biggest employer.
Up to 80 jobs are to go at Sheerness Steel Mill, which is owned by Thamesteel.
A formal statement from the mill, which employs around 400 people, is expected later this week.
Tom Butler, chairman of the union Community which represents 95 per cent of the workers, said: “This is a great shock to the workforce as we only told them last Thursday their jobs were safe but not to overspend at Christmas.”
Keith Plowman , the mill’s general sales and marketing manager, said: "I would rather make no formal comment until later this week except to say that we are in discussion with staff and the unions."
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