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Outokumpu Says To Cut 670 Jobs In Sheffield

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HELSINKI, Dec 23 (Reuters) - Stainless steel maker Outokumpu (OUT1V.HE: Quote, Profile, Research) said on Friday it will cut 670 jobs in Sheffield in northern England, having concluded staff talks.

Not a particularly good Christmas present for the affected staff.

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Not a particularly good Christmas present for the affected staff.

It will continue until the banks and the BOE stop force-feeding money into property and ruining the competitiveness of the UK economy.

Actually, if anything it looks like the destruction of British industry is occuring at an increasing rate.

I am coming to the concluson that ther globalisation freaks are doing this on purpose, we will end in the gutter.

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Why do all these companies decide to make their staff redundant at Xmas?

Presumably because it's the end of a quarter.

Actually, if anything it looks like the destruction of British industry is occuring at an increasing rate.

How can manufacturers in the UK possibly afford to pay wages high enough for their workers to sustain our high cost of living (and, in particular, our insanely high house prices), when their competitors are hiring Chinese workers for $0.50 an hour instead? Sacking them and moving production abroad just seems like a no-brainer in most cases.

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Presumably because it's the end of a quarter.

How can manufacturers in the UK possibly afford to pay wages high enough for their workers to sustain our high cost of living (and, in particular, our insanely high house prices), when their competitors are hiring Chinese workers for $0.50 an hour instead? Sacking them and moving production abroad just seems like a no-brainer in most cases.

This exactly why house prices will crash below anybody's imagination.

Chinese wage inflation will 0% for the next 20 years because they have so many workers so don't expect house prices to rise before 2025.

Governments & Business know this and that is why they are trying to keep people spending (via MEW) as long as humanly possible.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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