£5-million pledge to help axed Corus workers
Mr McFadden said Corus remained a nationally-important employer, despite the announcement yesterday of 2,000 UK job cuts, including 500 in Scunthorpe.
The cuts in Scunthorpe are expected to hit management and white collar jobs hardest.
Mr McFadden said: "This is very disappointing news for those affected. We understand the difficulties the company is facing caused by an extreme downturn in demand for steel around the world.
"It is restructuring as it seeks to match production to lower demand and to position itself for the future.
"The Government is committed to ensuring UK industry has what it needs to tackle the challenges. We are working with Corus to try and secure the future for as many workers as possible.
"I met with Kirby Adams (Corus chief executive) last week to discuss the pressures the company is facing as demand had failed to pick up.
"Corus remains a substantial business, employing more than 20,000 in the UK and with capacity to produce more than 13 million tonnes of steel per year.
"It remains important to many regions and communities in the UK."
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