British Steel May Cut 2,000 Jobs In Move To "Greener" Technology: Report
NDTV
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.
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 Euros of taxpayer funding, according to the report.
