Corus to announce job cuts

Steel giant Corus was today due to end weeks of speculation by announcing thousands of job losses hitting several plants across the country.

Last-ditch pleas by unions and politicians have been rejected by the company, which confirmed last night that an announcement was imminent.

Corus, the Anglo-Dutch privatised steel maker, will finally give details of its long-awaited restructuring which it blames on the strength of the pound, tough trading conditions and loss of traditional markets.

The huge factory at Llanwern near Newport in south Wales is expected to be hardest hit although other sites in Wales and Northern England are also expecting bad news.

A Corus spokesman said last night that an announcement about the restructuring will be made this morning.

Workers at factories where jobs will be axed are expected to be briefed by managers throughout the day.

Corus chairman, Sir Brian Moffat has come under strong pressure from ministers, MPs and union leaders in the past few weeks to scale back the job cuts.

Some MPs said Sir Brian appeared to be shocked at the heavy lobbying at a meeting earlier this week, but the last-ditch pleas have not persuaded him to change the restructuring plans.

The company, formed in 1999 through a merger of British Steel and Dutch firm Hoogovens, axed 4,500 jobs last year but signalled further cuts when its two chief executives suddenly resigned before Christmas.

Unions are sure to mount a campaign to try to save as many jobs as they can and the Government is likely to offer help to redundant steelworkers.

But communities, especially those in south Wales, will be badly hit by the cutbacks.

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