Liberty Steel announces 355 job cuts to UK staff due to 'challenging market conditions' [UPDATED]

Liberty Steel Group will cut 355 jobs at its UK steelworks in Stockbridge, South Yorkshire and Newport, South Wales due to "challenging market conditions", the company said on Thursday January 9.

This follows a move late in 2019 when the GFG Alliance announced plans to consolidate all its steel businesses into one global group named Liberty Steel Group.
The company said it has decided to reduce its workforce at certain plants to ensure the long-term viability and competitiveness, following a review of its UK business in response to challenging market conditions and a lingering reduction in demand for UK steel products.

It added that it sees opportunities to prosper in the UK market through home-grown manufacturing of steel products, investment in new metals technology...

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