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Corus confirms job cuts

Corus has confirmed that it is cutting about 2,500 jobs in the UK and 3,500 jobs worldwide.The announcement comes as the firm, like all steel firms, has seen a substantial drop in global demand for steel.A Corus spokesman said that about 1,000 jobs will be cut in mainland Europe.Corus, a subsidiary of Tata Steel, currently employs 24,000 in the UK and 42,000 people worldwide. The company is Europes second largest steel producer with revenues ...