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Corus set to cut 2,000 jobs in UK Corus set to cut 2,000 jobs in UK
(about 1 hour 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. One union official told the BBC Corus would announce its restructuring plans to workers at 0930 GMT on Monday.
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
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. Corus's main UK sites are at Port Talbot, Scunthorpe and Teesside. It also has a site in Rotherham. 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 class="" href="http://www.bbc.co.uk/blogs/thereporters/robertpeston/">Robert Peston's blog
Mick Fell, union chairman at Scunthorpe, said he did not anticipate there would be any job losses there, but said he imagined workers would be "quite nervous" ahead of Monday morning's announcement.
A spokesman for Community trade union, which represents steelworkers, said the reported job cut figures may have been "exaggerated".
He went on: "Any job cuts that damage the viability and long-term future of the steel industry will be looked on unfavourably."
He added that the union was committed to defending the jobs and terms and conditions of its members.
Difficult timesDifficult times
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.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.
CORUS IN UK Steelworks at Port Talbot, Scunthorpe and TeessideEngineering steels produced at RotherhamStrip mills at Llanwern, South WalesTinplate works at Trostre, south WalesCoating works at Tafarnaubach, south Wales and Shotton, north WalesElectrical steel works at Newport, south WalesTube mills at Corby and HartlepoolPlate mill at Dalzell, ScotlandNarrow strip mills at Brinsworth, EnglandSpecial section mill at Skinningrove, EnglandCORUS IN UK Steelworks at Port Talbot, Scunthorpe and TeessideEngineering steels produced at RotherhamStrip mills at Llanwern, South WalesTinplate works at Trostre, south WalesCoating works at Tafarnaubach, south Wales and Shotton, north WalesElectrical steel works at Newport, south WalesTube mills at Corby and HartlepoolPlate mill at Dalzell, ScotlandNarrow strip mills at Brinsworth, EnglandSpecial section mill at Skinningrove, England
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.
Steelmakers around the world have been hit by falling demand from carmakers, shipbuilders, construction and heavy engineering sectors, which, in turn, have seen demand for their products drop.Steelmakers around the world have been hit by falling demand from carmakers, shipbuilders, construction and heavy engineering sectors, which, in turn, have seen demand for their products drop.
Government helpGovernment help
CORUS WORLDWIDE Steelworks at IJmuiden, The NetherlandsCoating works at Maubeuge, north FranceElectrical steel works at Surahammer, SwedenTube mills at Oosterhout, Arnhem and Maastricht, The NetherlandsRail mill at Hayange, north-east FranceNarrow strip mills at Dusseldorf and Trier, Germany, and Warren and Bethlehem, USACORUS WORLDWIDE Steelworks at IJmuiden, The NetherlandsCoating works at Maubeuge, north FranceElectrical steel works at Surahammer, SwedenTube mills at Oosterhout, Arnhem and Maastricht, The NetherlandsRail mill at Hayange, north-east FranceNarrow strip mills at Dusseldorf and Trier, Germany, and Warren and Bethlehem, USA
Corus was formed in 1999 through the merger of British Steel and Koninklijke Hoogovens. In 2007, it became a subsidiary of Tata Steel.Corus was formed in 1999 through the merger of British Steel and Koninklijke Hoogovens. In 2007, it became a subsidiary of Tata Steel.
Corus claims to be Europe's second-largest steelmaker, producing 20m tonnes of crude steel every year.Corus claims to be Europe's second-largest steelmaker, producing 20m tonnes of crude steel every year.
Its annual revenues are about £12bn ($16.3bn).Its annual revenues are about £12bn ($16.3bn).
The company has requested financial help from the UK government for a rolling programme of providing new skills to its entire workforce.The company has requested financial help from the UK government for a rolling programme of providing new skills to its entire workforce.
"This would take the form of a state top-up for the wages of employees," said Robert Peston."This would take the form of a state top-up for the wages of employees," said Robert Peston.