AMSTERDAM: Tata Steel plans to cut up to 3,000 jobs across its European operations, the company said yesterday, as the sector wrestles with excess supply, weak demand and high costs.
There will be no plant closures, Tata said, adding the aim was to shield Tata Steel Europe from challenges, such as weak demand, excess capacity and trade issues, and to become cash positive by the end of its financial year ending March 2021. Tata said in a statement challenging market conditions had been made “worse by the use of Europe as a dumping ground for the world’s excess capacity”.
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