Tata Steel, a subsidiary of Tata Group, has announced job cuts. The company is seeking financial support for its Dutch operations and cutting jobs to turn a profit. Tata Steel to lay off 800 employees in Netherlands due to profit concerns. Know where the impact of this layoff will be. Read what is the complete news.
Tata Group’s Tata Steel has announced job cuts. The company is seeking financial support for its Dutch operations and is cutting jobs to gain profits. Tata Steel will lay off 800 people in Netherlands for profitability.
Two companies separated from Tata Steel Europe
The company completed the process of demerging Tata Steel UK and Tata Steel Netherlands from Tata Steel Europe in October 2021.
What is the company’s capacity?
The company’s production capacity in the Netherlands is 7 million tonnes annually. This plant of the company is located in IJmuiden, Netherlands. Tata Steel aims to produce CO2-neutral steel in Europe by 2050.
Tata Steel said in a statement
The steel market has been in crisis for some time. To ensure structural competitiveness and profitability, now and in the future, Tata Steel Netherlands is implementing significant measures, including the reduction of 800 jobs in IJmuiden.
Where will be the impact of job cuts?
Tata Steel said that out of the 800, 500 jobs will be reduced mainly from management, staff and support positions and the remaining 300 jobs will be related to the work of temporary workers and non-filling of vacancies not directly related to production. Are.
Tata Steel said that
It is important to maintain a strong competitive position and be agile enough to respond to rapidly changing circumstances and new developments.
New people will be recruited
Tata Steel said the company will make new appointments as there is no bar on adding new skilled talent. The company said that despite the reduction in the number of jobs, there is no complete stop on appointments.
