Corus is set to cut 3,500 jobs worldwide, including more than 2,000 in the UK
The Anglo-Dutch steel giant has been hit hard by an unprecedented downturn in demand, but has so far not confirmed how many jobs will be shed this week.
Corus is a subsidiary of India’s Tata Steel, employs 24,000 people in the UK and 42,000 worldwide.
Corus’ main UK sites are at Port Talbot, Scunthorpe and Teesside. It also has a site in Rotherham.
A 40 per cent fall in global demand for steel from its peak of last year caused Corus’s order book to drop by more than a third. Steel prices have fallen by half since last September. The company has already announced measures to reduce costs including hundreds of job cuts.
Corus was formed in 1999 through the merger of British Steel and Koninklijke Hoogovens. In 2007, it became a subsidiary of Tata Steel.
The company has requested financial help from the UK government for a rolling programme of providing new skills to its entire workforce.