Corus cutbacks
Corus, Europe’s second largest steelmaker, has announced that it will cut up to 2,500 UK jobs as part of a strategic review to reduce production in line with falling demand.
, Europe’s second largest steel maker, has announced that it will cut up to 2,500 UK jobs as part of a strategic review to reduce production in line with falling demand.
The Anglo-Dutch group said in October that it would cut production by 20 per cent in order to save around £600m in cash benefits in the six months to the end of March.
The latest set of measures will bring these plans forward and will place 3,500 jobs at risk from the 42,000 people the company currently employs.
Corus has confirmed that approximately 1,100 of these will be in south Wales, with 1,400 jobs to be cut in the rest of the UK.
In addition to changes to UK production, Corus is to sell its aluminium smelters in Germany and the Netherlands, which will see a further loss of 1,000 jobs.
Corus said it will be making every effort to achieve the job losses through voluntary redundancies in an attempt to reduce impact on its employees.
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