Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
More than 200 jobs are to be axed at the Corus steel plant at Llanwern near Newport, it has been confirmed. Corus Strip Products (CSP) UK said the job losses were driven by the company's commitment to create a sustainable strip steel industry in south Wales.
The losses were confirmed as a 1billion GBP redevelopment of part of the Llanwern site was given council backing. A consultation will be held but the 212 jobs from the 1,500-strong workforce are expected to go later this year.
The firm's managing director Phil Dryden said Llanwern still had a 'critical role' to play alongside a hot rolling mill at Port Talbot. He said the job losses would ensure the company had 'the right people in the right place in the right organisational structure,' and they would continue to recruit 'new young talent' for the future.
The company is now in formal consultation with trade unions over redundancy terms and said every effort would be made to find jobs internally for those affected. The steelworkers union Community has said it will fight the job losses.
Eurofound (2007), Corus, Internal restructuring in United Kingdom, factsheet number 65413, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65413.