New jobs fears at British Steel

Jobs could be at risk at British Steel after it is set to be bought by Oyak, the Turkish military pension fund.

Oyak’s investment vehicle, Ataer Holdings, was chosen as preferred bidder last week and quickly complained about “very low” productivity.

The Financial Times newspaper claimed its productivity drive could “lead to several hundred job losses”. More than 3,000 workers are employed by British Steel in Lincolnshire, where 20,000 jobs are linked to the industry. British Steel’s former owner, private equity firm Greybull Capital, let it slide into insolvency in May.

Unite union assistant general secretary Steve Turner said Unite would be “watching closely and speaking with our Turkish sister unions”

He referred to Turkey’s “record of repression alongside reported opposition to trade union organisation in its steel plants”.

But unions have failed to organise to defend workers’ jobs at British Steel.