Tata Steel, which is UK's largest Steel Maker has announced that it will sell off it's entire UK operations to any interested buyer that meets it's requirements.
This is coming at a time that the European Union is recording a record low Steel price since 2004.
Also in a bid to remain competitive , Tata downsized in January , relieving more than 1,050 UK workers of their jobs in the company with the Port-Talbot base in Wales, the worst hit (750 workers).
Tata Steel is not the only steel company struggling in the UK as more than 40,000 British Steel workers have lost their jobs as a result of the downsizing since 2015 (one-fifth of the sectors workforce).
No comments:
Post a Comment