According to residents, the gully was first reported to the County Council FIVE months ago.
Work is expected to be completed today - weather permitting.
To allow the work to take place safely, temporary traffic lights will be needed at the junction of the A158 and A153 (Boston Road).
According to reports, there were also delays on the A153.
With the temporary lights in place, contractors will also take the opportunity to investigate a nearby drainage issue on the A153 (Bull Ring) .
The County Council say it is hoped that the majority of the work can be carried out between 9am and 3pm to minimise the impact on motorists as far as possible.
However, they add that if there is a ‘simple solution’ to the issue on the Bull Ring, the temporary lights may remain in place so this too can be permanently resolved.
In addition, the gully on Jubilee Way will remain coned off for a few days afterwards to ensure it is strong enough to take the weight of traffic.
Coun Richard Davies, Executive Member for Highways, said: “The gully on Jubilee Way is on the verge of collapsing, so we can’t leave it as it is.
“And we’ll take this opportunity to look at what’s causing the flooding issues on the Bull Ring too.
“Despite our best efforts, there is likely to be significant effect on traffic, so please use alternative routes where possible.
“We apologise in advance for any inconvenience caused.”