Tata Steel Europe's chief executive Mr Henrik Adam has told staff job losses across Europe would number 1,250 rather than the 3,000 that had been expected. In a letter to staff on Monday, Mr Adam described the company's financial situation as serious. He said “There's an urgent priority to improve the performance of the business and our cash position. The business had lost GBP 76 million in the first nine months of the financial year. We have identified a range of measures, including not replacing employees who have retired or left the business, which would minimise job losses. The proposed plans aim to secure the future of our company and do what's best for our employees given the very challenging circumstances we're currently facing. Arrangements will be made to commence consultations for the start of April on the proposed organisational changes with the relevant national employee representatives. Our transformation is about securing the future of our business for generations of steelmakers to come."

 

In November it was suggested two thirds of the job losses across Europe would be management and office-based roles.

 

Unions demanded urgent talks to discuss transformation plans set out in the memo, which included not replacing employees who have retired or left the company and making 1,250 job cuts. （Source : STEELGURU）