World

Corus to axe 3,500 jobs worldwide

by mudricky | January 25, 2009 at 03:37 pm

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The BBC is reporting tonight that the Steelmaker, Corus will be cutting around 3,500 jobs worldwide.

Most of these axes will be in the UK with more than 2,500 going.

Their UK sites employs 24,000 and the expected job losses can be found at Port Talbot, Scunthorpe and Teesside and also Rotherham.

Corus, a subsidiary of India's Tata Steel, employs 42,000 worldwide.

Steelmaker Corus is set to cut 3,500 jobs worldwide, including more than 2,500 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.

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.