Tata Steel, EWC Discuss Proposals To Transform Europe Business, Incl. Job Cuts

Europe

Tata Steel Europe, a unit of India-based Tata Steel, announced that it engaged with its European Works Council or EWC to discuss on proposals to transform its business including the planned job cuts of up to 3000 across its European operations.

The meeting marked the official start of the employee consultation process with the EWC. Tata Steel Europe shared its earlier outlined initial proposals about its transformation programme focused on four areas to improve financial performance.

The company plans to lower employment costs, leading to an estimated reduction in employee numbers of up to 3,000 across Tata Steel Europe’s operations. Of these, about two-thirds are expected to be management and office-based roles. In the job cuts, up to 1,600 are expected in the Netherlands, 1,000 in the UK and 350 elsewhere in the world.

The company also plans to increase sales of higher-value steels by improving product mix and customer focus; and efficiency gains by optimising production processes.

Further, the company projects reduction of procurement costs through smarter sourcing and strengthening cooperation with companies within the Tata Steel group.

The transformation programme aims to build a financially strong and sustainable European business, to safeguard its long-term future.

Tata Steel said it agreed with the EWC on a forward process and will meet again in the coming weeks to discuss further details. It will continue to update its employees and other stakeholders during the process.

For comments and feedback contact: editorial@rttnews.com

Business News

Biosimilar Race US Lags Behind Europe

Biosimilar Race US Lags Behind Europe

Top Ten Cannabiz Celebrities marijuana Farm Bill Rob Gronkowski Mike Tyson Martha Stewart Snoop Dogg

Top Ten Cannabiz Celebrities

New Drugs Approved In October

New Drugs Approved In October

Leave a Reply