West Midlands-based firm Tarmac Building Products Ltd is to cut 550 jobs and close one of its divisions due to "tough market conditions".
The firm, which is based in Wolverhampton, said it planned to close its precast solutions and flooring arm.
It said 217 jobs would be lost in Tallington, Lincolnshire and 106 in Henlade, Somerset.
The remainder are to go in Derby, Lound in Nottinghamshire and Dolyhir in Powys, Wales.
A company spokesman said it was consulting with staff and unions over the plans to cut 500 full-time staff and 50 agency employees.
The company blamed tough trading conditions and uncertain market demand.
"This affects five sites across the UK and, unfortunately, means that around 550 people are at risk of redundancy," the spokesman said.
"We are very conscious of the impact this will have on our employees, their families and the local communities around our sites if the closure goes ahead.
"It is not a decision we have taken lightly and we will begin a 90-day consultation period with employees affected by this. We will also liaise with our customers to discuss how this could impact them."
The company's website describes it as the UK's largest supplier of heavy building products.
It says it has been involved in a wide variety of construction projects including Wembley Stadium, Emirates Stadium and St Pancras Station.