More jobs axed at Corus as steel demand plunges

STEELMAKER Corus said yesterday it was planning to cut a further 366 jobs at its Scunthorpe plant, taking the total for the group to nearly 5,000 this year.<br /><br />The news comes a week after the group axed 2,000 posts throughout the UK, as the recession leads to a slump in the demand for steel.<br /><br />Corus said it needed to make &ldquo;significant savings&rdquo; to secure the future of the plant, but the Community union hit out at the steelmaker, saying the extra job losses added &ldquo;insult to injury&rdquo; for the workers.<br /><br />In January, the company said 2,500 jobs at the company would go. <br /><br />Last month, Tata Steel, the Indian parent of Corus, said full year profits at the company had slumped by 60 per cent to $973m (&pound;600m), as the downturn hit the industry.<br /><br />The Scunthorpe plant is part of Tata&rsquo;s long products division that makes sections, wire rods and plates, used mostly in construction.