Tata Steel will cut around 1,200 jobs in Europe, with the UK being the worst hit, under a planned restructuring to deal with ‘flood of cheap imports’ from China and other places. The company, which will stop making steel plate at its long Products Europe business, also blamed high power costs a strong pound for the proposed moves.
“As a result, Tata Steel has been forced to make changes to its long Products Europe business. The proposed changes would lead to around 1,200 job losses about 900 in Scunthorpe and 270 in Scotland as well as a small number at other long Products Europe sites,” it said.
The business announced proposals to stop production of steel plate. This comes in response to a shift in market conditions caused by a flood of cheap imports, particularly from China, a strong pound and high electricity costs, it added.