THERE are mounting calls today for the resignation of Corus chairman Sir Brian Moffat amid fears that Gwent jobs will be axed because of major losses.

Newport East Assembly Member John Griffiths, an economic development spokesman, is backing calls by steel union leader Mike Leahy that Sir Brian should go.

The move follows the firm's loss of a Dutch court case which prevents the sale of their aluminium business to French firm Pechiney to offset almost £400 million losses which were expected to be announced today.

Corus axed more than 2,000 Gwent workers in the past two years with the closure of the Ebbw Vale works and end of steelmaking at Llanwern. There continues to be a rolling operation at the Newport plant.

Pontypool-born Mr Leahy, general secretary of the ISTC, said of Sir Brian, who lives in Monmouthshire: "He should realise that it is in the best interests of the company for him to resign immediately.

"Sir Brian has clearly lost the trust of the Dutch management as well as all of the workforce and shareholders."

Mr Griffiths said: "There must be changes at the top to bring in new management able to command the confidence of the workforce, their trades unions and shareholders.

"They must also be capable of reconciling the differences between the UK and Netherlands management teams."

Share prices plummeted to 3.5p per share after news of the court loss was revealed yesterday.

Corus issued a statement saying it regarded the Appeal Court's decision as final and viewed the outcome as "extremely disappointing" especially as every effort was made to address the concerns of the supervisory board."