Tuesday, January 27, 2009

Corus Layoff : Steel firm Corus axes 3,500 jobs

Corus is Europe’s second-largest steelmaker. It announced to cut 3500 jobs as part of a new stragetic initiative launched to enhance competitiveness. Corus currently employs about 42,000 people and a little over half of them are stationed in the United Kingdom. A company spokesperson told that jobs will be cut in three plants — 1,100 in South Wales, 1,400 in the United Kingdom and another 1,000 in Holland.
Tata-owned Corus is the latest steel maker to announce downsizing of its workforce. Faced with an economic slowdown, steel makers the world over are cutting output, cancelling investments and reducing their workforce.
Source : Business Standard

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