Tata Steel on Monday said its Netherlands unit would scrap around 800 jobs at its under-pressure plant in IJmuiden near Amsterdam in a bid to “improve market conditions and bring down costs,” reported AFP.
“The steel market has been in dire straits for some time. In order to remain structurally competitive and profitable now and in the future, Tata Steel Netherlands is taking significant measures, including a reduction of 800 jobs in IJmuiden” near Amsterdam, Tata Steel said in a statement.
The company currently employs around 9,200 people in IJmuiden plant. The layoffs would hit around 500 full-time workers—mainly managerial and support staff, the report said adding that another 300 temporary positions would also be scrapped.
“Despite all efforts by Tata Steel to improve its market position and reduce costs, more needs to be done,” Tata Steel statement read.
Tata Steel further said, “Forced redundancies cannot be ruled out and the company will discuss a social plan with the unions.”
Earlier, the health authorities and residents in Netherlands accused the company of being the main source of air, soil and water pollution in the area that was causing illness to several residents.
The company is also facing several legal claims over possible “intentional and unlawful” pollution, the report said adding that Dutch prosecutors February last year opened a criminal probe over the same.
Tata’s steel IJmuiden factory is responsible for around 7% of the total CO2 emissions of the Netherlands, making it the biggest single polluter in the country, reported Reuters.
Tata Steel in September said as many as 3,000 jobs were at risk at Talbot plant which employs more than 8,000 people despite the British government’s offer to pump 500 million pounds ($621 million) to decarbonise the site.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
Download The Mint News App to get Daily Market Updates & Live Business News.
More
Less
Updated: 13 Nov 2023, 08:52 PM IST
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
