GEORGETOWN - Georgetown Steel is readying another proposal to present to Steelworkers Union Local 7898 that could mirror the twice-rejected 10 percent pay cut.

The union has called an informational meeting on the plan for 9 a.m. today and a vote for Friday between 6 a.m. and 5 p.m.

It's unclear what impact the proposal will have on the mill's future. Company and union officials couldn't be reached for comment.

In previous weeks, company officials said such a pay cut by union members was vital to the survival of the steel mill. It would have lowered costs and helped to secure a financial aid package being considered by Gov. Sanford's office, state legislators and Santee Cooper. Nonunion members accepted the cut in pay.

The 34-year-old steel mill shut down Oct. 21 and filed for Chapter 11 bankruptcy protection the next day. At a court hearing two days later, the company's attorneys said they would seek a change in the union labor contract, and if that was not successful, they would ask the court to cancel the contract.

Workers twice rejected the pay cut that also included an increase in their share of health insurance premiums. The company said labor costs were one of the reasons the mill was shut down, along with rising costs for utilities and materials.

"As scared as everybody is about their job, I think they'll take it this time," steelworker J.J. Jackson said Wednesday.

Many of the workers who voted down the proposal didn't understand the plant would shut down, others said.

But some said they heard the proposal being drawn up by the company would be for a 15 percent pay cut. That would not fly, they said.

"Fifteen percent would be too much," said Robert Prosser, who would have marked his 30th anniversary at the steel mill Wednesday.

Jackson said the workers would rather take unemployment than take a 15 percent cut.

Unemployment rules don't require them to take a job for less than 85 percent of what they were making, so they wouldn't vote to go that low, Jackson said.

Prosser is among those who think the company will ask for more this time around, though.

"This time, it's going to be squeeze," he said.

But Prosser said he is anxious to get back to work. He said he loves his job in the shipping department and is bored.

"I'm just as miserable as I can be. I done cut my grass twice in the same week," he said.