Corus to cull 3,500 jobs
British steel maker Corus said Monday it would cull 3,500 jobs out of a worldwide workforce of 42,000, as a reaction to the economic slowdown.
Corus said it would
make every effort to achieve the job losses through voluntary redundancies, whilst retaining critical skills in the business.
The cuts are part of a
fresh wave of job cuts expected in Britain this week, The Times of London reported Monday.
Plane and car parts supplier GKN is expected to announce further cuts, having cut 1,400 jobs from its automotive operations in October, and recruitment firm Randstad reported half of British companies expect to trim staff in the next six months.
Of the companies expecting cuts, 57 percent said they would cut managerial and clerical positions, The Times said.