Tata Steel has announced that 3,000 people will be laid off | FASTENER EURASIA MAGAZINE
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Tata Steel to lay 3,000 jobs in Europe

Indian steelmaker Tata Steel has announced that 3,000 people will be laid off in its European operations.
    
In the announcement made by Tata Steel it was stated that the company is going through restructuring due to the deterioration in international market conditions and plans to increase production with high added value in the company's European operations. Within this framework, 3 thousand people to be laid off and about two-thirds of those are of the office positions stated in the statement and emphasized that the European facilities will not be closed.
Henrik Adam, Tata Steel's Senior Manager states in the announcement, "We are working together to create a better and faster decision-making process,  This will give us the opportunity to be self-sufficient and to have cash in unprecedented market conditions."
Indian Tata Steel employs approximately 20,000 people in Europe and 8,358 in England, Wales. On the company's decision, Ken Skates, Welsh Economy Minister concluded, "We are urgently trying to negotiate with Tata Steel to determine what the announcement means for employees in Wales and how we can support those affected by the decision."

The Chinese Jingye Group announced that it has acquired British steelmaker British Steel, which was known to be experiencing financial difficulties for a long time, and plans to invest £ 1.2 billion to modernize its production facilities.