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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.1 - Manufacture of basic iron and steel and of ferro-alloys
3,500 jobs Number of planned job losses
Announcement Date
26 January 2009
Employment effect (start)
Foreseen end date
Description
Corus, a large steel producer, is to cut 3,500 jobs worldwide. The jobs were blamed on steep falls in demand from different industries including carmaking, shipbuilding, construction and heavy engineering. The company committed to make every effort to implement the job losses through voluntary redundancies. Corus belongs to Tata Steel and employs 42,000 staff worldwide. As of January 2009, there is no information on when the job losses will occur.
Sources
26 January 2009: BBC News
Citation
Eurofound (2009), Corus, Internal restructuring in World, factsheet number 68023, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68023.
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