Grangemouth's workers have called bully-boy Ineos bosses' bluff by saying they are willing to accept cuts if owners back down on an brutal closure threat.

Around 800 workers at Scotland's Grangemouth Petrochemicals were left reeling on Wednesday when chairman Calum MacLean told them his board was laying off the entire plant.

The company - part of the multinational Ineos empire - has blamed the closure on the workers' refusal to accept a "survival plan" of drastic cuts to pay, pensions and employment terms.