Up to 97 jobs could be axed after possible redundancies were announced at tumble dryer manufacturer Crosslee.
Jobs are under threat after the Hipperholme-based company announced its worst sales results for 28 years and a fall in profits.
The company blamed changes in exchange rates which have hit exports and an increase in imports from overseas competitors.
In a press statement Crosslee Plc said: “It is highly regrettable that we are now faced with having advised members of our workforce of a potential redundancy situation with the loss of up to 97 jobs, which will include the possibility of compulsory redundancies.
“The company needs to take positive action during these difficult times in order to secure its future position as a leading manufacturer of its products.”
Despite tough trading conditions the company, which describes itself as as Europe’s largest independent tumble dryer manufacturer, said it had decided to “weather the storm” over the past year.
The statement said: “However, the continued weakening of the Euro has impacted heavily upon our export business due to tumble dryer imports from mainland Europe and Turkey benefitting from this by circa 20 per cent and, conversely, our exports into Europe have become increasingly expensive.
“We have also seen the Far Eastern manufacturers become far more aggressive with their pricing to the UK and Western Europe markets, and this is specifically the case with regards to Chinese manufacturers as their own economy slows down.”
The company, which was set up in 1986, said it would seek to avoid compulsory job losses during the consultation period.
The statement added: “The company will of course consider any volunteers for redundancy.”