The global press manufacturer is to shed 54 jobs out of 110 at Goss Graphic Systems, based at Greenbank Street, Preston, as it seeks to rationalise its UK operations, it said.
The company has entered into a 30-day consultation, with its staff, that is due to conclude on 18 December.
A Goss International spokesman said: "Goss International is rationalising its operations in the UK, in line with similar action in other countries, as the company evolves to become more customer focused and importantly more financially viable.
"As a result, we have made a proposal to reduce headcount at our Preston facility and have entered into a consultation period with our employees and their representatives over it.
"The market has significantly changed and, in line with action taken by Goss in other countries such as France, we need to evolve to ensure Goss International remains a market leader."
"We recognise this is an uncertain time for our people and we are trying to resolve these conversations as quickly as possible."
Unite regional officer, Terry Thompson, who is liaising with Goss union members and company management said: “This announcement is a huge blow for Goss employees. The printing firm is a well-established local business, which plays an important role in the Preston economy.
"Our members are devastated by the potential job losses, particularly as the news comes in the run up to Christmas. Unite is in talks with the firm’s management and will be fighting to retain every job at the site.”
The move comes amid a massive ongoing global restructure of the organisation that resulted in the loss, this year, of around 300 jobs at Goss France and follows similar action last year across Goss International’s operations in Asia.
Employees at the Preston site, which offers sales and servicing, faced similar restructuring in 2009 when around a third of its workforce was cut.
Goss International acquired the Preston press manufacturing business in 1930.