Tata Steel to cut 900 jobs in Britain

Tata Steel said on Friday it would cut 900 jobs across the UK as part of a restructuring plan aimed at improving its performance in "changing markets".

The group said 580 jobs would go in south Wales with the rest being cut in England as part of proposals to restructure its management and administrative functions and reduce the number of steel finishing and processing sites by 12.

"Today's proposals are part of a strategy to transform ourselves into an 'all-weather' steel producer, capable of succeeding in difficult economic conditions," Karl Koehler, Chief Executive of Tata Steel's European operations, said in a statement.

Tata Steel also announced that it would re-start one of two blast furnaces at Port Talbot early next year as part of a 250 million pounds investment programme.

EDITORIAL OF THE DAY

  • Reservations, along with economic subsidies, must go to get India moving

    A young man, in his early twenties, starts an agitation demanding reservation for the community he represents.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The China story isn’t over yet

China’s financial markets are currently in the eye of a ...

Anuja Sharma

Love yourself to love others

“There are two basic motivating forces: fear and love. When ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture