British Steel is considering axing as many as 800 jobs at its Scunthorpe plant, the BBC understands. For many residents, the soul of the town is intertwined with the metal it is known for producing. BBC News' Kevin Shoesmith discovers how, in the words of one resident, "everything revolves around steel".
In the compact town centre there's a sculpture, made from Corten - a self-weathering steel - to honour generations of hardy workers.
It depicts a man and a woman returning home with a bicycle after a day's toil.
For hundreds of workers in this small but proud Lincolnshire town facing the threat of unemployment, this rusty installation may now serve as a metaphor; the end of a working day for the end of a way of life.
The soaring towers, chimneys and silos of the steelworks dominate the physical landscape. But it has also seeped, like sweat from the pores of generations of workers, into the soul of this town
In a statement, British Steel - owned by Jingye - said: "Unfortunately, like many other businesses we are reluctantly having to consider cost cutting in light of the global recession and increased costs.
"We have discussed this in preliminary talks with the trade unions in which we shared the challenges we face.
"We look forward to working closely with them to ensure a long-term safe and sustainable future for the company, thousands of employees and many more in people in our supply chain."
Meanwhile, the UK government said it was committed to securing a "sustainable and competitive future for the UK steel sector".