 "Ratan Tata's comeback seen as a positive by UK workers")
With Ratan Tata taking over as the interim chairman of Tata group, it has given some hope to the workers at Tata Steel UK, who think Tata’s employee-friendly approach could probably mean a different plan for the Port Talbot unit.
“Ratan Tata’s appointment is being looked at positively as he is known to be more employee-friendly and more committed. There is hope that perhaps there could be a change of heart for what’s being planned at Talbot at the moment,” Harish Patel, nation officer of Unite, Britain’s largest trade union, told Business Standard.
Tata Steel had announced its plan to sell off the loss-making UK business in March, and was also in talks with Germany-based Thyssenkrupp for a possible joint venture. The process, however, was put on hold in July, on Brexit concerns.
“We are looking to get a meeting appointment with Ratan Tata and perhaps it could happen next week,” said Patel.
“There are several issues on which we need clarity such as status of sale of speciality business and change of direction with regard to Talbot unit if any.”
Unite will be seeking guarantees about jobs and pensions from Tata’s new interim chairman, who needs to act to bring certainty to the steel-making business along with a promise that Tata will continue to act as a responsible employer.
It was Ratan Tata’s ambitious plan to see Tata Steel among the top steel producers in world, which led to the acquisition of Corus in 2007 for a hefty sum of $12 billion. However, since the acquisition the Europe business brought more of financial strain than glory to Tata Steel. The country’s largest steel producer was compelled to take some hard-hitting decisions in the past few years starting from several rounds of job cuts, sale of units to taking non-cash write downs.
“Ratan Tata’s appointment is being looked at positively as he is known to be more employee-friendly and more committed. There is hope that perhaps there could be a change of heart for what’s being planned at Talbot at the moment,” Harish Patel, nation officer of Unite, Britain’s largest trade union, told Business Standard.
Tata Steel had announced its plan to sell off the loss-making UK business in March, and was also in talks with Germany-based Thyssenkrupp for a possible joint venture. The process, however, was put on hold in July, on Brexit concerns.
“We are looking to get a meeting appointment with Ratan Tata and perhaps it could happen next week,” said Patel.
“There are several issues on which we need clarity such as status of sale of speciality business and change of direction with regard to Talbot unit if any.”
Unite will be seeking guarantees about jobs and pensions from Tata’s new interim chairman, who needs to act to bring certainty to the steel-making business along with a promise that Tata will continue to act as a responsible employer.
It was Ratan Tata’s ambitious plan to see Tata Steel among the top steel producers in world, which led to the acquisition of Corus in 2007 for a hefty sum of $12 billion. However, since the acquisition the Europe business brought more of financial strain than glory to Tata Steel. The country’s largest steel producer was compelled to take some hard-hitting decisions in the past few years starting from several rounds of job cuts, sale of units to taking non-cash write downs.