Steel producer Corus has announced the closure of its Teesside Cast Products
(TCP) unit, resulting in the loss of 1,700 jobs.
Corus chief executive Kirby Adams estimated redundancy costs will total £80
million. Adams said: “This is the last thing we wanted and we feel deeply about
what is happening. Sadly, it has become unavoidable, through no fault of our
people on Teesside.”
Tata Steel bought Anglo-Dutch Corus in 2006 for $12 billion and the unit on
Teesside accounts for about 15% of its European steelmaking capacity. According
to a company statement, Tata had already subsidised the plant’s continuing
operation to the tune of about £130 million. “Operating a 3 million tonnes per
year merchant slab plant is not sustainable without a long-term strategic
partner,” the statement added.
Responding to the announcement, Unite union’s joint general secretary Derek
Simpson said: “This is a dark day for British manufacturing. Unite will do
everything possible to prevent this closure from going ahead. The government
must act now to save Teesside as decisively as it acted to save the banks last
year. The plant needs urgent financial support to secure a future for the
workers and prevent its closure.”
Meanwhile, Keith Hazlewood, GMB Union National Secretary, said: “What a
terrible contrast, with 1700 workers losing their jobs on Teesside, while
multi-millionaire bankers gorge themselves at the expense of the tax payers.”
Depending on your circumstances, you may prefer to speak with an
employment law solicitor. You can be matched with a
solicitor in your area for free via solicitor matching services, which can
also help you to understand the best course of action for your situation and
whether you are ready to hire a solicitor.
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