Tata Steel announces 1,000 job cuts in UK
2019-11-28 12:00:17 [Print]
Tata Steel has announced it expects to cut 1,000 jobs across the UK as part of the company's restructuring plans.
Two thirds of the job losses will be management and office-based roles, Tata said. However, the firm is yet to specify which UK locations will suffer the cuts.
In the Netherlands 1,600 positions are also set to go, with 350 others cut elsewhere in the world.
The firm first announced plans to cut 3,000 jobs across its European business last week, in a bid to come to terms with a severe international steel market.
In a bid to improve financial performance, the company also expects to increase its sales of higher-value steels, optimize production processes and reduce its procurement costs.
Two thirds of the job losses will be management and office-based roles, Tata said. However, the firm is yet to specify which UK locations will suffer the cuts.
In the Netherlands 1,600 positions are also set to go, with 350 others cut elsewhere in the world.
The firm first announced plans to cut 3,000 jobs across its European business last week, in a bid to come to terms with a severe international steel market.
In a bid to improve financial performance, the company also expects to increase its sales of higher-value steels, optimize production processes and reduce its procurement costs.
