British Steel’s Chinese owner is preparing to cut as many as 2,000 jobs as it battles losses believed to be running at £30m a month, according to reports.
The potential cuts, which amount to almost half of the Scunthorpe-based firm’s 4,500 workforce, are part of a switch to greener steel production using electric arc furnaces instead of polluting blast furnaces, which use coke to melt iron ore.
