Tata Steel Eyes 250 Job Cuts at UK, Llanwern Steelworks-GMB Union
August 26 2015 - 10:29AM
Dow Jones News
By Alex MacDonald
LONDON--Tata Steel Ltd. (500470.BY) is looking to cut 250 jobs
linked to the closure of its Llanwern steelworks in south Wales,
one of its largest labor unions said Wednesday.
Tata Steel, Europe's second largest steelmaker by capacity after
ArcelorMittal (MT), is planning on mothballing the hot and cold
mills as well as one of its pickle lines at the steel processing
facility, said the GMB Union in a statement. The company, however,
will retain its hot coil finishing and the zodiac line, which
produces steel for automotive customers, the union said.
Tata Steel, part of India's Tata Group, declined to comment.
Tata Steel has been seeking to restructure its operations in
light of lackluster steel demand in Europe, particularly for steel
construction products, where demand is still hovering below the
high levels of 2007, the year before the financial crisis began to
take its toll on the regional economy and dented steel demand.
Write to Alex MacDonald at alex.macdonald@wsj.com
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(END) Dow Jones Newswires
August 26, 2015 10:14 ET (14:14 GMT)
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