In a move that could lead to potential job losses to more than 700 people, Tata Steel Europe has announced the next stage in its plans to refocus its specialty and bar business on high value markets such as aerospace.
The proposed changes would result in a reduction in employee numbers, mainly at its Rotherham-based bar business. This has been underperforming in the face of commodity grade steel being imported to the UK due to strong pound and high electricity costs which are more than double those of key European competitors, Tata Steel said.
Tata Steel Europe has identified 720 positions which will potentially become redundant. However, the company will work closely with those at risk and their trade union representatives to redeploy employees and minimise the number of compulsory redundancies, Tata Steel said.
Published 16 July 2015, 19:07 IST