Tata Steel plans to cut jobs in its European factoriesEuropost
Tata Steel plans to cut jobs across its European operations in attempt to tackle excess supply and high costs, the company said last Monday cited by news wires. Tata's European business employs around 20,000 people. So far, no layout numbers have been made public. In an emailed statement, Tata said challenging market conditions had been made “worse by the use of Europe as a dumping ground for the world's excess capacity”.
Indian-owned Tata Steel, which launched a transformation programme in June to strengthen its European business, has operations including steelmaking in the Netherlands and Wales and downstream operations across Europe. There will be no plant closures but the aim is to shield the company against the “huge number of challenges” it faces, the company said.
Steel making in Europe has come under strain from international competition and high energy costs, putting large numbers of well-paid jobs under threat. European steelmakers blame China for the extent of a surplus in the market, but the worlds biggest steelmaker says it has made its own deep cuts to capacity.