Bluescope cuts 500 NSW jobs

BLUESCOPE will cut 500 jobs at Port Kembla, freeze pay for three years and suspend a bonus scheme as part of cost savings plans.

Bluescope Steel workers are meeting to prevent the Port Kembla steelworks from closing.

BLUESCOPE Steel will shed around 500 jobs at its Port Kembla steelworks operations in NSW as it cuts costs to keep its Australian operations viable.

THE troubled steelmaker is under financial pressure due to weakening demand and a slump in prices amid a supply glut.