!["This [agreement] is a major step towards achieving the $200 million cost saving target," BlueScope chief executive Paul O’Malley (pictured) says. Picture: Robert Peet](/images/transform/v1/crop/frm/yKyzS5MkFCYtCA2z8EAGJL/cc5f55f5-7fab-4184-89e6-710576eb2235.jpg/r0_0_5184_3375_w576_h298_fmax.webp "\"This [agreement] is a major step towards achieving the $200 million cost saving target,\" BlueScope chief executive Paul O’Malley (pictured) says. Picture: Robert Peet")
BlueScope says an agreement with unions and workers is a vital step towards keeping the Port Kembla steelworks open.
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The new three-year enterprise agreement includes a wage freeze and new streamlined provisions for workplace restructures.
The company says about 300 manufacturing jobs will go as a result, while 200 support and service positions will be cut. Staff will also forgo their bonuses for the 2015-16 financial year and there will be no salary reviews for the next three years.
“This is a major step towards achieving the $200 million cost saving target,” BlueScope chief executive Paul O’Malley said.
“But we still have a lot of work to do in the coming weeks, as steel prices remain under pressure from the global steel glut.”
A cost-saving update is expected prior to the company’s AGM on November 19.
