Tata Steel to cut up to 3,000 jobs in Europe

Muscat Daily - - BUSINESS -

In­dian group Tata Steel said that it would slash up to 3,000 jobs in Europe as it re­struc­tures Euro­pean op­er­a­tions fol­low­ing the col­lapse of a planned merger.

The an­nounce­ment came af­ter weeks of spec­u­la­tion that the steel gi­ant, which em­ploys 11,000 work­ers in the Nether­lands, would cut thou­sands of jobs to tackle struc­tural chal­lenges and weaker de­mand for Euro­pean steel that is com­pounded by the US-China trade con­flict.

One way to im­prove the group's fi­nances was to cut em­ploy­ment costs, which meant ‘an es­ti­mated re­duc­tion in em­ployee num­bers of up to 3,000 across Tata Steel’s Europe op­er­a­tions’, the group's Euro­pean unit said in a state­ment.

About two-thirds of the cuts would likely af­fect ad­min­is­tra­tive posts, Tata said.

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