UK government looks to save Corus Teeside plant
This week's announcement of job losses at the Corus Teeside steel plant, which has been in existence for over 150 years, has attracted the attention of the likes of Lord Mandelson. The government, currently on a UK roadshow, will today hold its first cabinet meeting in the north-east with hopes that it will be able to put together some form of rescue package for the plant.
While the figure of 1,600 potential redundancies amongst those who work at the plant is worrying enough in itself, many people are concerned about the impact on the local economy. Ministers, local politicians and union leaders are already trying to exert pressure on Corus to at least consider selling the plant to a rival in order to safeguard the jobs at risk. Whether the company will actually take this on board and actively seek buyers for the plant remains to be seen.
After a period of resurgence over the last decade, which saw a strengthening of the north-east economy, the last few months have seen a constant drip feed of negative news on the employment front. This is the heartland of the UK government's support and ministers are keen to do what they can to save the Corus steel plant and other jobs in the area.
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