British Steel rescue takes a step closer

British Steel rescue takes a step closer

Unions have confirmed a deal with the Chinese company, Jingye

A deal over pay and conditions has been struck between British Steel workers and the Chinese industrial firm which wants to buy the business out of administration, unions have confirmed.

But workers' representatives said they expect to see up to 500 job losses following 10 days of "extremely challenging" negotiations with Jingye management to discuss their business plan and in particular their proposals relating to employment.

Jingye is looking to buy the business from Government liquidators, after ministers promised to fund the company following its collapse last year. It is thought to be losing up to £1 million a day.

 

Published: by Radio NewsHub
Start your relationship

If you are interested in receiving bulletins from Radio News Hub or would simply like to find out more please fill in the form below. We operate on annual contracts - spread the cost is available.

We aim to get back to you within 48 hours