Tata rules out job cuts with Corus takeover

Former British steel, Corus, has accepted a £4.3bn takeover offer from Indian rival Tata Steel.It is the largest Indian takeover of a foreign company and will create the world’s fifth-largest steel firm.

Corus employs 47,300 worldwide including 24,000 people in the UK.

Tata said it did not plan to relocate any Corus plants, but added job cuts could not be ruled out in the long-term.

Over the past five years, Corus plant closures have resulted in more than 3,000 job losses throughout England and Wales.

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