Blog
Corus culls jobs as global steel output slumps
26th June 2009
Hundreds of workers will lose their jobs in a huge jobs cull by steelworker Corus as a result of the slump in global steel demand.
Corus executives say that their order book is less than 25% full - partly the result of the steep decline in car and housing construction. Inevitably the job losses hit the local economy hard especially given that many of the jobs are in localities where unemployment is already well above the national average - these include redundancies at plants at Scunthorpe, Stocksbridge and Rotherham and on Teesside.
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.