Company News 

Seven days: 22 November 2019

Seven days: 22 November 2019

Tata Steel cuts jobs

Tata Steel will cut 3,000 jobs across its European operations as the company deals with severe market headwinds. The group said that it expects about two-thirds of the cuts to be office-based roles. The company is aiming for positive cash flow by the end of its financial year in March 2021. Henrik Adam, who became chief executive of Tata Steel in Europe earlier this year, said: “Today we are highlighting important proposals towards building a financially strong and sustainable European business.” In July, a merger between Tata and German conglomerate Thyssenkrupp was blocked by Brussels on competition grounds.

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