Liberty Steel UK has placed 440 jobs under threat through a series of actions to secure its future amid “unviable” market conditions.
The company said high energy costs had combined with other uncompetitive factors and it was vital its operations were refocused.
Liberty, part of Sanjeev Gupta’s GFG Alliance, said its Newport plant would be made idle under the changes.
They would also include operations at Rotherham being shifted towards premium products.
Liberty, which has been battling financing headwinds since the collapse of its biggest lender Greensill Capital in 2021, said the next phase of its restructuring programme would see workers affected offered an alternative to redundancy.
It aims to retain, re…
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