The company says it has to cut its losses, which are running at more than 1bn a year. Both the latter are, of course, largely down to the relative strength of the pound against the currencies of important steel producing and consuming countries. Far from it. The plant at Llanwern in south Wales, which will be most badly hit by the job cuts, is one of the most productive in the Anglo-Dutch group, which was formed by the amalgamation of the privatised British Steel and Hoogovens. Because it's much simpler and cheaper to sack British ones.
Job security is a no-no in the free market age.
And the government is genuinely furious with Corus for refusing to consult ministers on its plans. It has been for 100 years. But of late, Plaid Cymru has been making inroads. Its former leader Dafydd Wigley is calling on Tony Blair to take over the steel industry - though he was careful to avoid another alarming word, 'nationalisation'. This is new Labour, remember.