Tata announces plans to cut 2,800 steel jobs in a blow to Welsh town
ABC News
Indian firm Tata Steel says it will close both blast furnaces at its plant in Port Talbot, Wales, eliminating 2,800 jobs
LONDON -- Indian firm Tata Steel announced Friday it will close both blast furnaces at its plant in Port Talbot, Wales, eliminating 2,800 jobs, as part of plans to make its unprofitable U.K. operation leaner and greener.
Tata plans to switch from coal-fired blast furnaces to electric arc furnaces, which emit less carbon — and need fewer workers — using a half-billion pound ($634 million) investment from the British government.
The company said it would “commence statutory consultation as part of its plan to transform and restructure its U.K. business.”
“This plan is intended to reverse more than a decade of losses and transition from the legacy blast furnaces to a more sustainable, green steel business,” it said.
The company said it expects about 2,800 jobs will be eliminated, most in the next 18 months, with a further 300 at longer-term risk.
