Cross-channel train operator Eurotunnel is reportedly planning to cut about 10% of its workforce.
The company, which employs 3,200 staff, is thought to be close to sealing a deal with unions for voluntary redundancies that could result in 250 UK job losses.
A further 100 employees could choose redundancy in France.
Eurotunnel has insisted that current staff reductions “are just natural wastage and retirements.”
In April, the operator reported losses of £570m against £1.3bn last year.
With debts of £6.2bn its hopes of survival rest on lenders approving a a debt restructuring.