Unions have stepped in to stop Corus closing its pension scheme to new entrants.
Delegates at the TUC conference have backed these efforts to stop the steelmaker from closing its pensions and bonus schemes.
The Community union was called in and said that it was unhappy about the proposed plans and so have been looking to the TUC to protect the final salary schemes.
Corus have been unable to comment as the situation is ongoing and nothing as yet, has been resolved.
Corus already cut more than 4,500 jobs this year from its UK plants and now it seems that their pension schemes are the next to face the chop. Corus have even been accused as using the recession as an opportunity to cut the benefits of workers and alter their agreed terms and conditions of work.
Community’s general secretary Michael Leahy is calling on the TUC to defend the final salary pension scheme, explaining that these pension schemes will mean the difference between comfortable retirement and poverty in old age.
The Community Union is looking to firmly draw a line in the sand and ensure that no further cuts are made, suggesting that many of these cuts could be kneejerk reactions to what is happening globally.
The members were all meeting on Thursday to discuss moving forward, but at this stage striking was not being ruled out.
The Community would also be meeting on Tuesday to discuss the Corus Teesside Cast Products factory closure and saving the 2,000 jobs there. A change of heart by an international consortium that had planned to embark on a 10 year deal to buy steel is forcing the hands of CEOs and members of the Community are hoping to be able to step in.
The Government will also be looked upon to give greater support to the steel manufacturers, as one of the UKs only remaining traditional industries.