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14/04/2003
Steelworkers show red card throughout Europe
Steelworkers throughout Europe have held a one-hour protest calling for the immediate resignation of Corus chairman Sir Brian Moffat.
Thousands of workers waved red cards as they protested against the chairman who the workers blame for the company’s performance.
The General Secretary of the Iron and Steel Trade Confederation, Michael Leahy, accused the chairman of reducing a premier league company to one at conference league level during his four-year tenure.
Corus are expected to announce restructuring plans within weeks following a board level strategic review of the company’s operations. The company’s chief executive Tony Pedder stepped down in March as the company announced rising losses.
Last month restructuring plans fell into disarray as the company lost a court battle with its Dutch management over proposals to sell off its aluminium interests in France worth an estimated £500.
Corus had announced plans to reduce capacity and concentrate on fewer operations at fewer sites. But with the strategy apparently in disarray, the company is still to approach unions formally to consult on jobs cuts.
The union also recently reacted angrily to proposals revealed in the Corus Annual Report to alter the bonus scheme for Directors of the Anglo-Dutch steelmaker so that the scheme was no longer linked to profitability and the maximum payable is to increase.
Michael Leahy, general secretary of ISTC, said: “When I read the Annual Report I thought the section relating to the proposed changes to the Directors' bonus scheme must be an April Fool's joke.”
He urged Corus shareholders to reject this proposal when they vote at the Annual General Meeting later in the month.
According to the union 6,000 jobs were lost in the UK, amounting to 12,000 shed since Corus was formed in 1999.
(SP)
Thousands of workers waved red cards as they protested against the chairman who the workers blame for the company’s performance.
The General Secretary of the Iron and Steel Trade Confederation, Michael Leahy, accused the chairman of reducing a premier league company to one at conference league level during his four-year tenure.
Corus are expected to announce restructuring plans within weeks following a board level strategic review of the company’s operations. The company’s chief executive Tony Pedder stepped down in March as the company announced rising losses.
Last month restructuring plans fell into disarray as the company lost a court battle with its Dutch management over proposals to sell off its aluminium interests in France worth an estimated £500.
Corus had announced plans to reduce capacity and concentrate on fewer operations at fewer sites. But with the strategy apparently in disarray, the company is still to approach unions formally to consult on jobs cuts.
The union also recently reacted angrily to proposals revealed in the Corus Annual Report to alter the bonus scheme for Directors of the Anglo-Dutch steelmaker so that the scheme was no longer linked to profitability and the maximum payable is to increase.
Michael Leahy, general secretary of ISTC, said: “When I read the Annual Report I thought the section relating to the proposed changes to the Directors' bonus scheme must be an April Fool's joke.”
He urged Corus shareholders to reject this proposal when they vote at the Annual General Meeting later in the month.
According to the union 6,000 jobs were lost in the UK, amounting to 12,000 shed since Corus was formed in 1999.
(SP)
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