Tata Steel Europe has no alternative but to reduce costs by reducing jobs

Tata Steel may seem to be a stern move to cut approximately 3,000 jobs across its European operations, but more lay-offs are expected under current market conditions, given the company's limited choices, analysts said. The current production capacity for Tata Steel Europe is at 12.5 million tonnes, with 21,000 workers.

In October, steel production fell 8.7% in the European Union region, according to the latest reports from the Eu....