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Unions worry 400 job losses to be caused by British Steel acquired by Chinese Jingye Group

14 Jan 2020 16:30 reported by Raul Lee

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According to the UK´s National Trade Union Steel Coordinating Committee, which included the Community and Unites unions, there would be approximately 4,000 jobs been loosed once the British Steel been acquired by the Chinese Jingye Group.

However, a spokesperson of Jingye Group said Jingye has held constructive discussions with union representatives during which the company outlined its ambitious investment plan for British Steel, the spokesperson also said his company looked forward to working together further with the unions and employees over the coming weeks, as well as continuing talks with the government.

Jingye Group was named as the preferred bidder for British Steel after an offer from the Turkish military pension fund Oyak collapsed in October last year. UK government has been funding the company’s estimated losses GBP 1 million per day since it collapsed into liquidation last May.

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