Up to 600 jobs are under threat at an oil and gas engineering firm in West Yorkshire.
Staff at OneSubsea have been told it was considering stopping manufacturing at their Leeds factory in 2017.
It blamed the “most severe downturn of the past 30 years” in the oil and gas industry, with “operators significantly reducing their investment”.
OneSubsea has 929 staff in Leeds. Some staff will remain at its site on Queen Street, Stourton, under the proposals.
In a statement, it said a drop in orders meant many of its plants were “underutilized”.
The firm, whose parent company is oilfield services giant Schlumberger, said it would hold a 45-day consultation period on the plans.
A spokesperson said: “This is only a proposal at this stage and we will be conducting consultation with the unions and employee representatives and make every effort to try and mitigate as much as possible the impact on our employees.”
In the past year, Schlumberger has announced thousands of worldwide job losses amid a plunge in oil prices.
According to its website, OneSubsea creates “integrated solutions, products, systems and services for the subsea oil and gas market”.
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