Indian steelworks Tata Steel today announced that it intends to abolish 1,600 jobs in the Netherlands due to low demand in Europe and worldwide commercial tensions. The European sector of steel, which was already facing difficulties due to high energy prices, is now facing 25%US duties, imposed by US President Donald Trump, causing panic on markets. “The difficult situation of demand in Europe, due to geopolitical developments, disorder in trade and the supply chain, as well as increased energy costs, has affected exploitation and economic costs,” the Indian colossus explained in its statement. The company said the redundancies would mainly concern “managerial positions” and “support workers”. “Tata Steel remains determined to make sure that its Dutch factories becomes one of the most competitive, productive and effective in Europe,” he added. Dutch unions reacted immediately as they consider it to be removed […]
Source: News Beast
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