It is part of their plans to become more competitive
British Steel is defending plans to cut 400 jobs at it's sites across the UK and Europe - arguing it'll help secure the long term future of the business.
Earlier this year they had boasted of booming profits, and only 2 months ago announced a £50 million investment in their Scunthorpe Site - which is still going ahead.
But today bosses say they have got to evolve to keep their products competitive, and the weakening pound and euro had had an effect - as all raw material are traded in US dollars.
They won't reveal exactly where they will be making the cuts, but it is feared it will mean the axing of some roles at the North Lincolnshire Plant.