Sandie Seward
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Corus Update.The steelmaker Corus has confirmed where the first 1,150 of its planned job cuts will be felt. It said 822 jobs would go at its plants at Stocksbridge, near Sheffield, where steel production will cease, and Tipton in the West Midlands. The remaining redundancies will be made at Llanwern in south Wales and Teesside. The Anglo-Dutch firm, which has been owned by the Indian conglomerate Tata since 2007, announced in January that it was cutting a total of 2,500 jobs in the UK. In addition, about 2,200 positions at the Redcar steel works on Teesside could be threatened amid doubts over its sale to the Italian company Marcegaglia. Corus agreed to sell a majority stake in the Redcar plant to a consortium led by Marcegaglia for $480m (£328m) in January. However, as a result of overcapacity in the steel market, it is reported that the Italian firm no longer believes the deal is financially viable.
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