Due to the prolonged downturn in demand, the Europe's second-largest steel producer Tata Steel might cut around 500 jobs to restructure the part of its British business that supplies the construction and engineering industries. This mainly will affect management and administrative jobs at sites in northern England, primarily Scunthorpe, where 340 positions could be lost. This year, the European steel demand this year seems to be only two-thirds of pre-crisis levels after falls in the past two years. Meanwhile, the Company decided to restructure of its long products and to refocus on high-value markets.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66899&division=A9
