Tata Steel To Cut Up To 3,000 Jobs In Europe

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The Hague: Indian group Tata Steel said that it would slash up to 3,000 jobs in Europe as it restructures European operations following the collapse of a planned merger.

As per reports, the announcement came after weeks of speculation that the steel giant, which employs 11,000 workers in the Netherlands, would cut thousands of jobs to tackle structural challenges and weaker demand for European steel that is compounded by the US-China trade conflict.

“Stagnant EU steel demand and global overcapacity have been compounded by trade conflicts which have turned the European market into a dumping ground for the world’s excess steel capacity,” Tata said.

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