UK - Trade unionists expect steel giant Corus to back down over the proposed closure of its defined benefit pension scheme.
The steel workers’ union, the ISTC, threatened industrial action after the firm outlined plans to close the £8.4bn British Steel Pension Scheme to new members.
The two sides have since held an initial meeting with Corus promising to look at alternative proposals.
But a union source predicted that the firm would back down. After the meeting, the source said: “It was clear that they underestimated the strength of feeling among our members. They were much more circumspect. They understand that they can’t just push ahead and do what they think is in their best interests.”
The source added: “They know quite clearly our position, and should they try to force something through which is not in our members’ interests – which jeopardises the future of the scheme – industrial action will go ahead.”
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