Tata Steel has announced that its Netherlands unit will cut around 800 jobs at its plant in IJmuiden near Amsterdam in a bid to ‘improve market conditions and bring down costs’, according to media reports.
"The steel market has been in dire straits for some time.''
Statement from Tata Steel
"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 at the 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."
Statement from Tata Steel
"Despite all efforts by Tata Steel to improve its market position and reduce costs, more needs to be done," Tata Steel’s statement continued. "Forced redundancies cannot be ruled out and the company will discuss a social plan with the unions."
Source: Mint