Coca-Cola is planning to close its manufacturing site in Milton Keynes.
It will also close a distribution centre in Northampton with the loss of almost 300 jobs, the company announced.
A company statement said: "We know today's news will be upsetting for our people at these sites, and our immediate priority is to support them throughout the consultation process.
"We are proud of our long-standing links with both towns and have not made these proposals lightly."
A total of 288 roles are at risk if the proposed changes are implemented, and the sites would close in 2019.
The drinks company says the changes are necessary because they would provide "significant productivity improvements" and create "greater efficiency" in their UK operations.
Mark Lancaster, MP for Milton Keynes North said “This is very disappointing news. I know it will be a worrying time for the employees and their families.I will be working closely with Coca-Cola over the coming year and keeping up to date with the consultation. It is important employees are kept informed and listened to throughout the process. It will be of little comfort to those hearing the news today, but our economy in Milton Keynes remains strong and the fastest growing in the UK with new jobs being created every day.”
Peter Marland, leader of Milton Keynes Council added via twitter '' Very concerned to hear @CocaCola plans to close its site in MK and in Northampton. We are urgently looking at help and support for those affected in MK and from MK.''
