Tata Steel plans to cut around 1000 jobs in Wales, United Kingdom. This job cut is part of their restructuring plans.
1600 jobs cut will be for the Netherlands while 350 from the rest part of the world.
Most of these jobs will fall under office-based and management roles. By February 2020 the exact details will be announced by the company till then these figures hold.
The move is driven by the need to change concerning the market. Henrik Adam, CEO, Tata Steel, Europe said the company "cannot afford to stand still" as "the world around us is changing fast and we have to adapt".
This is a tough time for not just the company but their employees as well as their families.
The firm has earlier announced that around 3000 jobs will be cut across Europe which was said to be driven because of the severe international market. Along with this 3000-job cut company also aimed to optimize the production process, increase sales of higher value steels and reduce its procurement costs to improve its financial performance.
However, as per the reports, community union claims that the move has been taken in the absence of any Plan B after the proposed joint venture deal with ThyssenKrupp collapsed.
Tags : office-based, management roles, international market,