Tata Steel announces 3000 layoffs in Europe

The difficulties facing the European steel industry continue to intensify, coupled with the impact of the British election, Tata Steel announced in a statement to cut 3000 jobs in Europe to cut costs, about 1 per cent of them workers.

Most of the cost cuts will be spent on Tata Steel's stronghold in the Netherlands. In addition, Tata plans to cut 1650 jobs in the Netherlands, a move that will be implemented after 2021 to avoid conflict.

Other ways to improve the company's performance include promoting the sales of high-priced steel, improving work efficiency, reducing procurement costs, and so on.

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