News Karnataka
Saturday, January 28 2023
Business

Tata Steel to cut around 1,200 jobs in Europe

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Mumbai: In a restructuring plan set for long products business in Europe, Tata Steel has announced that it will be stopping the production of steel plate leading to around 1200 people losing their jobs across Europe.

Tata Steel’s Long Products Europe business has announced proposals to stop production of steel plate. This comes in response to a shift in market conditions caused by a flood of cheap imports, particularly from China, a strong pound and high electricity costs, the company said.

As a result, Tata Steel has been forced to make changes to its Long Products Europe business. The proposed changes would lead to around 1,200 job losses – about 900 in Scunthorpe and 270 in Scotland as well as a small number at other Long Products Europe sites. Plate mills in Scunthorpe, Dalzell and Clydebridge would be mothballed while one of the two coke ovens at the Scunthorpe steelworks would be closed, the company said.

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