Tata Steel MD says, “ We are watching the space because in 2015 when China was exporting 10 million tonnes a month, we appealed to the government and we got some support. Now, China is exporting about 8 million tonnes a month, so it is pretty close to that. So, let us wait and see what happens in the next few months.”
Tata Steel s planned job cuts in Britain are seen as the "least bad option" by CEO T V Narendran, who hopes to reach a conclusion with unions in the next two months. The company will close two blast furnaces, resulting in up to 2,800 job losses. Trade unions have rejected the plan and are considering industrial action.
Planned job cuts in Britain by India s Tata Steel were the ‘least bad option,’ and the company will continue to hold talks with unions and hopes to reach a conclusion over the next two months, CEO TV Narendran said
Tata Steel plans to close its blast furnaces in Britain, resulting in up to 2,800 workers losing their jobs at its steelworks plant in Wales. The move comes as part of a plan to switch to lower carbon electric arc furnaces, which is supported by £500 million of government funding. Tata Steel will begin a consultation process and aims to maximize voluntary redundancies. The company employs over 8,000 people in the UK.