The Socialist Alliance released the statement below on August 23.
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BlueScope Steel Ltd. announced on August 22 that it would shut two production facilities and shed 1000 jobs as part of a restructure aimed at turning around a $1.05 billion annual loss.
This will mean the shutdown of a blast furnace at Port Kembla in the Illawarra region of New South Wales and closure of its Western Port hot strip mill in Victoria.
The Port Kembla closure will result in 800 job losses, while at least 200 jobs will be cut at Western Port.