Derby City Council said it's looking to speak to Rolls-Royce about the future of thousands of workers in the city.
Concerns have been raised over potential job losses after it was reported the company may cut up to 8,000 members of its workforce over the weekend.
The authority said it and Derby's coronavirus economic recovery task force - made up of public and private business and chaired by city council chief executive Paul Simpson - are "seeking urgent talks" to establish what it can do to "support" Rolls-Royce.
A spokesman for Rolls-Royce said it is "working closely with our employee and trade union representatives and then we will consult with everyone affected".
A large part of Rolls-Royce's revenue depends upon the maintenance of aircraft engines, but with the number of flights being so low internationally, the work simply isn’t there. It is vital that Derby – and the UK as a whole – stands with Rolls-Royce, its workers and others in the sector at this challenging time."