Europe's second largest steelmaker Corus Steel, the Anglo-Dutch subsidiary of India's Tata Steel Group, has sent 500 workers home on basic pay at its Llanwern plant near Newport, South Wales, UK, citing a lack of orders due to the deepening slowdown
According to the agreement reached by Corus with union officials at the Llanwern plant, some part of the company's 1,400-strong workforce will be put on a guaranteed working week with pay reductions of between 30 and 50 percent. The arrangement is expected to continue until further notice.
Moreover, a similar policy is expected to be looked at for Corus' other South Wales plant at Port Talbot.