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No job safe as Corus bans UK investment.
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| Submitted: Fri Dec 12 2003
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A Corus of disapproval ... but in the City they cheered as the axe fell on 6,000 jobs. Oliver Morgan on how the steel company's troubles were forged by economic misfortune and managers' botch-ups No job safe as Corus bans UK investment Observer Sunday February 4, 2001 Tears in the valleys, cheers in the City. While workers in Wales and the North-east were last week coming to terms with the personal cost of steelmaker Corus's savage 6,050 job cuts, traders in the City merrily marked up the shares nearly 10 per cent. In Ebbw Vale, where Corus's tin-plate and rolling mills are to close, with 780 jobs lost, the gloom is deep. Here is Wales's most depressed area - male unemployment the highest in the region at 11.1 per cent, GCSE passes 10 per cent below the Welsh average, weekly wages £42 lower, and the highest level of coronary heart disease....
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