Tata Steel to offload around 3,000 jobs in Europe
Tata Steel is set to cut around 3,000 jobs in its European arm after a failed bid to merge with German steel giant ThyssenKrupp in the summer.
Roughly two-thirds of redundancies will be in office-based positions, with the company not planning to close any more of its factories.
The firm, owned by Indian company Tata, employs 20,000 people, including 8,385 in the UK.
The blocking of the planned ThyssenKrupp merger left Tata having to restructure in order to cut costs and re-adapt to the current status of the international steel market.
Chief executive of Tata Steel in Europe, Henrik Adam, said: “Today we are highlighting important proposals towards building a financially strong and sustainable European business.
"We plan to change how we work together to enable better cooperation and faster decision-making. This will help us become self-sustaining and cash positive in the face of unprecedented severe market conditions, enabling us to lead the way towards a carbon-neutral future.”
Tata’s Port Talbot site in Wales employs just under half of the firm’s UK-based workers, which has left Welsh economy minister Ken Skates seeking reassurances over its future in the wake of the news.
Skates said: "I am seeking an urgent conversation with Tata to establish what this means for workers in Wales and how we can support those affected by this announcement."