British Steel drawing up plans for 800 job losses - report
By Michele Maatouk
Date: Wednesday 01 Feb 2023
(Sharecast News) - British Steel has reportedly been drawing up secret plans to axe hundreds of jobs even as it continues talks with ministers about £300m of taxpayer funding that would partly depend on decade-long employment guarantees.
According to Sky News, the company has been discussing launching a consultation on around 800 redundancies, principally focused on the Scunthorpe plant in north Lincolnshire where it is based.
One industry insider told Sky there was a possibility that trade union officials could be briefed on the proposals as early as Wednesday, although there remained a possibility that their disclosure could be delayed pending the outcome of negotiations with the government.
It was understood that the planned cuts would arise from the closure of coke ovens, although Scunthorpe's two blast furnaces and other mills within the Chinese-owned group would continue to operate.
The government's offer of £300m in state support is partly predicated upon providing job guarantees lasting for a decade, and a source told Sky this would "complicate" talks between the two sides.
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