Dutch news agency ANP reported on that TATA Corus has applied for Dutch government financial aid to temporarily reduce the work hours of 4,600 workers to cope with the global economic slowdown.
As per report, under the terms of the government support, if approved, Corus workers in the Netherlands would be paid 70% of their wage via unemployment benefits, while Corus would pay the other 30% over a period of six weeks, starting in January.
The report added that the arrangement can be extended up to three times, for a total period of 24 weeks and to qualify for the scheme, firms must have reported a 30% decline in sales in the past two months.
Dutch trade union De Unie said on its website said that Corus planned to apply for the government assistance and that it had reached an agreement with unions.
Corus employs 11,300 workers in the Netherlands.