TATA Steel Job Cuts: Tata Steel Managing Director and Chief Executive Officer, T.V. Narendran, in an interview with Moneycontrol, has said that the company will start consultation with UK Unions regarding the restructuring moves at its Port Talbot site.
The restructuring comes as the Port Talbot site is shifting to electric-arc furnace production. In the interview, he further denied media reports that claimed the company had delayed the announcement of job cuts. The media reports came after the company cancelled a scheduled press conference on Wednesday evening soon after it put out a grim quarterly result.
"There is some confusion on the delay because yesterday we were supposed to do a call with the media, but we had to push it because by the time the results got uploaded, it was quite late," Narendran said in an interview with Moneycontrol
In September, reports of the UK government investing as much as $621 million into Tata Steel to decarbonise its Welsh site emerged. Britain media also reported that as many as 3,000 jobs were at risk. As per The Guardian, Staff had been braced for up to 3,000 job cuts and confirmation of the closure of two blast furnaces.
Also Read: UK to invest $621 million to decarbonise Tata Steels' Welsh plant; about 3,000 jobs at risk
"There will be an impact on jobs. We don't like it but I think the objective is to make sure that we have a sustainable business in the UK and we continue to make steel in the UK," Narendran told Moneycontrol. He also added that Tata Steel is in talks with the unions regarding the amount of job cuts.