Industry

Tata Steel recasts UK business

Tata Steel’s long products business has announced restructuring proposals which could affect management and administrative functions at its U.K. sites in Scunthorpe, Teesside and Workington, and could lead to a loss of around 500 jobs. A statement from Tata Steel said about 340 positions could be affected in Scunthorpe, 90 in Workington, and 40 in Teesside.

The proposals come amid a prolonged demand downturn for some key products made by the Scunthorpe-based business. “European steel demand this year is expected to be only two-thirds of pre-crisis levels after falls in the past two years,” Karl Koehler, CEO, Tata Steel’s European operations, said.




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Printable version | Jan 19, 2022 3:44:52 PM | https://www.thehindu.com/business/Industry/tata-steel-recasts-uk-business/article5286157.ece

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