What would you do to save your employer?

Would you take a pay cut to save your colleagues from unemployment? That is the conundrum reportedly faced by staff at the steel giant Corus.

According to the Financial Times, unions representing the company's 25,000 British staff have offered to accept a temporary 10% reduction in pay as a way of saving a Corus plant in Newport, South Wales, from closure.

It's worth noting straight away that one of the three unions involved later today in talks about the economic woes facing the steel industry, the GMB, has already robustly dismissed the idea as "utter bollocks".