Tata Steel is set to cut 1,000 jobs in the UK

India’s Tata Steel is set to cut another 1,050 jobs at its UK plants, according to sources.

Around 750 jobs are expected to be cut at the Port Talbot plant in Wales.

Thousands of jobs in Britain’s steel industry were cut last year, with companies blaming high energy costs and cheap imports from China.

As a result, it is expected that the Government will intervene to help revive the industry.

Many entrepreneurs and service companies rely on this factory. So direct job cuts will have a domino effect in the region.

The government responded to the crisis last year by holding a summit and pressuring the European Union to support energy-intensive companies. But industry unions believe that additional measures are needed.

„While the information remains unconfirmed by the company, these reports are deeply concerning. The Government continues to engage closely with Tata Steel during this difficult time.

Clear measures have been adopted by the government to help the industry. These consist of reducing energy costs, taking action on imports, public procurement and EU emissions regulations. According to the requests of the representatives of the steel industry. ” spokesperson of the Department for Business, Innovation and Skills.

Greybull Capital is in talks with India’s Tata Steel about a possible rescue package. For the long products division of Tata Steel. Which is headquartered in Scunthorpe and has 4,700 employees in Europe.

Last month, Tata Steel signed a letter of intent with Greybull Capital for the potential sale of this division of the company.

Article source: http://www.express.co.uk/news/uk/635484/Britain-s-struggling-steel-industry-expected-to-be-hit-by-over-1-000-job-cuts