Mass layoffs may be on the horizon at New England Confectionery Co. in Revere.

Necco chief executive Michael McGee notified the state and Revere Mayor Brian M. Arrigo that 395 workers — most of its workforce — could be laid off if the troubled candymaker cannot find a buyer.

McGee stated in the March 6 notice that the company “has been in ongoing negotiations with potential buyers to allow for its continued operations,” but that if a sale is not completed or if the company opts for layoffs, employees could be terminated as soon as 60 days from the date of the notice.