Millions of commuters and New Year's Eve revellers are set to face travel chaos because of two threatened strikes expected to be called today in a row over jobs and conditions.

About 330 signalling workers are believed to have voted in favour of industrial action amid union claims that Tube bosses want to cut jobs, lengthen shifts and reduce rest breaks.

The executive of the Rail Maritime and Transport union will meet later today to decide their next move, but it is understood they will call two 24-hour strikes, on New Year's Eve and January 4.

Walkouts would cripple Tube services on New Year's Eve, when hundreds of thousands of revellers will be in the capital to see in 2005, and again when people return to work after the festive break.

It is understood that the union leaders will delay calling the strikes until later today because of talks being held between the two sides.

LU will meet the RMT and officials from other trade unions in a last-ditch attempt to resolve the row.