British Steel planning to cut 2,000 jobs: report, HR News, ETHRWorld

London: British Steel is preparing to axe up to 2,000 jobs as part of a cost-cutting programme, according to a report, even as its Chinese owners seek large subsidies from the UK government.

The potential staff cuts, reported by the Sunday Times, are said to be a key plank of plans to replace its coal-powered blast furnaces with electric arc furnace (EAF) technology producing “greener” steel.

The switch could unlock new funding for Chinese group Jingye, which has owned British Steel since 2020, including up to £300 million of taxpayer funding, according to the report.

A spokesman for British Steel said the firm was committed to “providing long-term, skilled and well-paid careers for thousands of employees and many more in our supply chains”.

But he added it was “continuing to assess our options”.

“As part of our journey to net zero, it is prudent to evaluate different operational scenarios to help us achieve our ambitious goals,” the spokesman added.

The GMB union has said in response that it does not accept that “mass job losses are the way to decarbonise the steel industry”.

“There are a myriad of options available and a fair, just transition for workers must be at the centre of any plan,” it added in a statement to AFP.

The Sunday Times story noted…