It’s been revealed today that global steelmaking giant Corus is to cut 3,500 jobs worldwide, as the company witnesses a substantial decline in demand from the ever-deepening downturn in the global economy.
As a subsidiary of India’s Tata Steel, Corus employs around 42,000 people worldwide and 24,000 of these are employed in the UK alone. On a day when the company announced the loss of 2,500 jobs in the UK, it’s perhaps worth pondering how the gases industry might eventually suffer from a decline in steel production.
The announcement is just the latest in a long line of negative news from manufacturing companies the world over.
Corporations and industries around the world are suffering as a result of the global economic downturn, with a chain reaction spreading through industry. With industrial, medical and specialty gases prevalent throughout almost all applications and walks of life, it’s not inconceivable to expect the gases business to begin to suffer further down the line.
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