Liberty Steel restructuring puts 440 jobs at risk

TL;DR

Liberty, part of billionaire metals tycoon's Sanjeev Gupta's GFG Alliance, said it would restart production at the idled plants "when the market and operating conditions allow".It added the restructuring would forge a "viable way forward" for the business and help safeguard jobs in its wider workforce of 1,900 permanent employees and 3,100 contractors.Jeffrey Kabel, chief transformation officer for Liberty Steel Group, said: "While our action is expected to regrettably impact the roles of some of our workforce, we will provide a level of guaranteed salary and out placement opportunities through our unique Workforce Solutions programme as an alternative to redundancy."'Sickened and angry'Alun Davies, national officer at steelmakers' union Community, said the announcement of possible job losses was "devastating" to staff who "couldn't have done more" to support the company through its recent struggles.He added: "Since the collapse of Greensill Capital the trade unions have supported the company because we believed that delivering the company's business plans, which were audited and backed by the unions' independent experts, was the best route to safeguard jobs and the future of all the businesses."

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