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Corus culls jobs as global steel output slumps

Geoff Riley

26th June 2009

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Hundreds of workers will lose their jobs in a huge jobs cull by steelworker Corus as a result of the slump in global steel demand.

Corus executives say that their order book is less than 25% full - partly the result of the steep decline in car and housing construction. Inevitably the job losses hit the local economy hard especially given that many of the jobs are in localities where unemployment is already well above the national average - these include redundancies at plants at Scunthorpe, Stocksbridge and Rotherham and on Teesside.

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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