This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7850013.stm
The article has changed 7 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Corus set to cut 2,000 jobs in UK | |
| (30 minutes later) | |
| Steelmaker Corus is set to cut 3,500 jobs worldwide, including more than 2,000 in the UK, the BBC understands. | Steelmaker Corus is set to cut 3,500 jobs worldwide, including more than 2,000 in the UK, the BBC understands. |
| Corus said it could not comment on rumour or speculation, but the company, like all steelmakers, is facing an unprecedented downturn in demand. | Corus said it could not comment on rumour or speculation, but the company, like all steelmakers, is facing an unprecedented downturn in demand. |
| BBC News business editor Robert Peston says the formal announcement could come as soon as Monday morning. | BBC News business editor Robert Peston says the formal announcement could come as soon as Monday morning. |
| Corus, a subsidiary of India's Tata Steel, employs 24,000 people in the UK and 42,000 worldwide. | Corus, a subsidiary of India's Tata Steel, employs 24,000 people in the UK and 42,000 worldwide. |
| The company wants to use this semi-idle period - which it expects to last for six months - to retrain its employees Robert Peston, BBC business editor Robert Peston's blog | The company wants to use this semi-idle period - which it expects to last for six months - to retrain its employees Robert Peston, BBC business editor Robert Peston's blog |
| According to the Sunday Times, the Anglo-Dutch steelmaker is not planning to close any of its British plants. | According to the Sunday Times, the Anglo-Dutch steelmaker is not planning to close any of its British plants. |
| Corus's main UK sites are at Port Talbot, Scunthorpe and Teesside. It also has a site in Rotherham. | |
| A 40% fall in global demand for steel from its peak of last year caused Corus's order book to drop by more than a third. | |
| Steel prices have fallen by half since last September. | Steel prices have fallen by half since last September. |
| The company has already announced swift measures to reduce costs. | The company has already announced swift measures to reduce costs. |
| "I understand that the cuts at Europe's second-largest steelmaker have been brought forward as a result of the downturn, but it was clear to [its soon-to-retire chief executive] Mr Varin that Corus needed to become more efficient in any case," said Robert Peston. | "I understand that the cuts at Europe's second-largest steelmaker have been brought forward as a result of the downturn, but it was clear to [its soon-to-retire chief executive] Mr Varin that Corus needed to become more efficient in any case," said Robert Peston. |