Human Resources
Corus to cut 1,700 jobs in Teesside
(THE INDEPENDENT) - The UK steel group Corus is to close operations in Teesside, triggering 1,700 job losses, after a consortium of buyers pulled out of a major contract earlier this year.
Corus, which is owned by the Indian group Tata Steel, has been exploring various options to salvage the plant, including selling all or part of it, and forging industrial partnerships in recent months. But after a rescue plan failed to materialised, the management yesterday said it could no longer continue to support the plant’s losses and moved to “mothball” parts of the business. Workers at the plant were informed of the scale of the job cuts yesterday morning, which bring the total losses announced in the UK by the company this year to 6,700.
Kirby Adams, the chief executive of Tata Steel Europe, said: “We are acutely aware that this will be devastating news for our employees, our contractors, their families and the local community.”
Lord Mandelson, the Business Secretary, said he shared the bitter disappointment” of those affected, saying the Government had been working with Corus all year to resolve the situation. “Finding a longer term solution, I’m afraid, has eluded us,” he said. He pledged the Government’s help for the individuals affected, including potential retraining schemes.
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