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Simon Dawson / No 10 Downing Str
It was previously announced that the firm, which is part of China's Jingye Group, would shut down two facilities in the nation. Following failed negotiations, the UK government stepped in and altered the managers of British Steel. Officials are seeking a purchaser for the asset, with British Business and Trade Minister Jonathan Reynolds stating that nationalization of the firm is a 'possible choice'.
On Tuesday, Lisa Coulson, the interim chief commercial officer of British Steel, stated that the management had finalized a consultation regarding the layoffs announced by the previous management.
British Steel is the sole steel manufacturer in the UK. The Financial Times highlights that if two of its plants shut down, Britain will be the sole nation in the G7 lacking its own steel production capability.
The company has approximately 4,500 employees in total.
source: ft.com
On Tuesday, Lisa Coulson, the interim chief commercial officer of British Steel, stated that the management had finalized a consultation regarding the layoffs announced by the previous management.
British Steel is the sole steel manufacturer in the UK. The Financial Times highlights that if two of its plants shut down, Britain will be the sole nation in the G7 lacking its own steel production capability.
The company has approximately 4,500 employees in total.
source: ft.com
