Unions strike deal with Chinese firm hoping to rescue British Steel

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Steel unions strike a deal with the Chinese firm hoping to rescue British Steel

By Daily Mail City & Finance Reporter

Published: | Updated:

Chinese Jingye, which is hoping to rescue British Steel,  has reached a deal with trade unions over the terms of workers’ contracts

The Chinese company hoping to rescue British Steel has struck an agreement with trade unions as it scrambles to seal the takeover by the end of next month.

Jingye and the unions have reached a deal over the terms of workers’ contracts.

Around 5,000 jobs were put on the line when Scunthorpe-based British Steel collapsed last May.

Jingye’s £50million rescue deal is expected to save around 4,000 jobs – but the final number has not been confirmed.

Unions will take the proposals to their members, who will be able to reject the offer and take redundancy instead.

 

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