Corus, the UK steelmaker, has announced that it intends to dramatically reduce production at its Teeside Cast Products factory and put most of the plant temporarily out of action as a result of the collapse of a 10-year deal signed in 2004 which assured the sale of 78% of the factory’s production. Once the job cuts are made, there will only be 600 employees remaining at the site with Roger Manser, managing editor of Steel Business Briefing, saying that he did not expect new steel jobs to be created in the North East of England until the global demand for steel rebounded, probably within the next 12 to 18 months. Corus announced 1000 job losses in January and then another reduction of 2000 personnel across its UK sites in June.
Source: bbc.co.uk/04.12.09