Tata Steel cuts up to 3,000 jobs in Europe

London, November 19

Tata Steel has confirmed cuts of up to 3,000 jobs across its European operations as part of a wider restructuring and cost-cutting strategy to counter stagnant steel demand in Europe and global overcapacity.

The Indian steel giant said it plans to lower employment costs with the “estimated reduction” in employee numbers, about two-thirds of which are expected to be office-based white-collar roles – a majority expected at its Netherlands unit.

“The information shared with the European Works Council select committee lays out the case for change, explains our transformation programme and gives a first overview of the organisational impact,” it said. — PTI