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Tata Steel to cut 2,500 UK jobs as part of green push, CEO Narendran
The Business Guardian
|June 03, 2024
NarenTran has confirmed that the company will inevitably cut around 2,500 jobs at its UK operations due to its transition to low-emission electric arc furnace (EAF) production.
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This shift is part of Tata Steel's decarbonisation plan, which aims to make its operations more competitive and reduce carbon dioxide emissions by five million tonnes annually. Despite the environmental and economic benefits, the prospect of significant job losses has sparked criticism and protests from workers' unions in the UK. Tata Steel, an Indian multinational, owns the largest steelworks in the UK, located at Port Talbot in South Wales, with a production capacity of three million tonnes per annum (MTPA). The company employs approximately 8,000 people across its UK operations. The transition to EAF production is supported by a joint investment plan agreed upon in September 2023 between Tata Steel and the UK government. The £1.25 billion investment includes a £500 million contribution from the UK government.
This story is from the June 03, 2024 edition of The Business Guardian.
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