It had in November decided to cut 3,000 jobs across its European business.
Tata
Steel Europe is planning to cut 1,250 jobs as it faces
"challenging circumstances" and "needs to urgently
improve profitability", Chief Executive Officer Henrik Adam said
in an internal memo seen by Reuters on Tuesday.
"Our
financial situation is serious and there's an urgent priority to
improve the performance of the business and our cash position,"
Adams said in the memo.
Besides
the job cuts, which would be less than half of what the company had
announced last year, Tata Steel said it will not replace employees
who have retired or left the company.
It
had in November decided to cut 3,000 jobs across its European
business.
The
company has outlined details of a transformation programme and
continues to be in talks with its European works council to minimise
job losses, according to the memo.
"Although
it's good news that we are able to minimise the impact on our current
employees, we need to progress with speed to secure the future for
the business," Adam said.
In
response to the Tata Steel's plans, Britain's Unite union has called
https://unitetheunion.org/news-events/news/2020/march/urgent-talks-call-as-tata-steel-job-losses-across-europe-on-cards
for "urgent talks" with the company to discuss the
implication on the company's UK operations, including the Port Talbot
site in South Wales.
No comments:
Post a Comment