Ineos has announced a "survival plan" to keep in operation the petrochemical plant attached to its refinery in Grangemouth, Scotland. The plan involved cutting jobs and changing the pension plan to reduce costs, as per Reuters. The plant has been losing 10 mln pounds (US$16.1 mln) per month and that its pension scheme has a 200 mlnn pound deficit.
The plan comes as the company is already in dispute with the Unite union, whose members voted last week to strike due to a disciplinary matter involving an employee at the plant.
01-Oct-13 
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