Friday, November 07, 2008

Corus cuts 400 steel jobs

Corus has announced plans to cut 400 jobs from its distribution business.

The proposed job losses include 95 at the steel giant's plant at Shotton, Deeside and 50 in south Wales.

Another 100 jobs will go at eight sites in the West Midlands and 50 in two locations in Leeds.

The company blamed the move on the global economic downturn and said the business had been operating in a "volatile and fluctuating" market since the start of the year.

The company said it had suffered a "significant decline" since September and was looking to cut spending on transport, consumables, energy and other discretionary spending.

"However, these actions alone will not be sufficient to offset the decline in the market," added a spokesman.

Read the full story at BBC News

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