Job Cut: Tata Steel is going to close two of its blast furnaces due to various challenges. 3 thousand workers will be affected by this decision of the company…
Amid adverse economic conditions, the blow of layoffs is increasing. Even in the new year, layoffs are continuing at a rapid pace and many renowned companies have been added to the list. The clouds of layoffs that had been prevalent in the tech world till now have now started reaching other sectors as well. In the latest case, Indian steel company Tata Steel has announced layoffs.
Shutting down two blast furnaces
Tata Steel is going to do this retrenchment in its UK unit. According to an AP report, Tata Steel is going to close two blast furnaces at its Port Talbot Steelworks unit. This unit is located in Wales, Britain. Nearly 3 thousand employees of the company will be affected by the closure of two blast furnaces. According to sources, those 3 thousand employees may be retrenched in the coming days.
Announcement may be made today
However, the company has not confirmed this yet. Neither the company has given any official information about the layoffs, nor has any official statement from the workers union come out. AP claims that Tata Steel will announce the closure of its two blast furnaces on Friday. Along with that, the company will also give information about the employees who will be affected by the closure of the blast furnace.
There was a problem in operation
Tata Steel also held a meeting with the workers union before deciding to close the two blast furnaces. In fact, the company is facing difficulties in financing the operation of greener metal production. The sword of retrenchment was hanging over the workers working in this unit for a long time, but till now it was possible to save their jobs.
Was getting support from the government
Port Talbot Steelworks is Britain’s largest steel production unit. Financial assistance was being provided by the British government to maintain its operations and protect its employees from layoffs. At the end of last year, the government had helped the unit with 500 million pounds i.e. about Rs 5,300 crore. However, at that time the government had also expressed apprehension that the jobs of 3000 people remained under threat.
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