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British Steel, the nation’s second largest steel producer, is planning to axe roughly 800 jobs – as it simultaneously discusses the possibility of a £300m government funding package, sources have claimed. The company, which employs roughly 4,000 people, is understood to be in discussions about launching a redundancy consultation, centred on the Scunthorpe plant in north Lincolnshire where it is based.
One insider told Sky News union officials could be briefed about the plans as soon as today, although any announcement may be delayed pending talks with the government.
Cuts would result from the closure of coke ovens – although the two blast furnaces based at Scunthorpe as well as other mills in the Chinese-owned group would remain in operation, the source said.
The Government would likely take a dim view given its £300m offer is partially dependent on guaranteeing jobs for ten years.
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