The axe has been swung before but this time is different – potential closure of BlueScope Steel’s Port Kembla operations hangs over the Illawarra and Mr Ward fears for the region’s future.

The 76-year-old, a former iron worker who is now a life member of the Australian Workers’ Union and president of its retired members, joined the hundreds who gathered for Wednesday’s mass union meeting.

‘‘I think we’ve had bigger numbers back in the ’80s but there was more members then; not many work in the steelworks now,’’ Mr Ward, from Lake Heights, said of the large turnout.

The meeting, at the Fraternity Club in Fairy Meadow, was the first between the union and its members since BlueScope chief executive Paul O’Malley revealed the company’s ‘‘game changing’’ approach to cut costs last week.

Mr Ward said the news that 500 jobs would  go as part the company’s preferred plan was ‘‘pretty rugged’’.

‘‘There’s not much future for our kids; I’ve got grandkids who’ll most likely never get a job in the steel industry and there’d be a lot of others in the same position,’’ he said.

Mr Ward has only lived in the Illawarra and said he’d seen it grow from a series of individual towns that stretched along the coast to a full-blown city – growth largely attributed to the steel industry.

‘‘If it folds, then this town will fold and we can finish up a ghost bloody town,’’ he said.

The concern was echoed by current employee Frank, who asked the Mercury not to publish his full name.

Frank, 35 years in the industry, admitted he was at an age where if the steelworks closed tomorrow he ‘‘wouldn’t worry about it too much’’, but feared for  families.

‘‘I know my neighbours have got kids and in the future there’s going to be nothing here. There’s no big industry to carry all these people; this place is going to be a ghost town in 10, probably 15 years’ time,’’ he said.

The shop floor was now ‘‘nearly cut to the bone’’.

‘‘They [BlueScope management] say they’re here to save money, well they’re not going about it the right way; the biggest component of their cost is in management – and they’re not attacking them.’’ he said.

‘‘Everyone’s pissed off, everyone’s had a gutful and, at the end of the day, how many cuts can you take?’’