Tata Steel to cut 2,500 jobs in Europe to save $930 mn in costs: Report

The worker union said it will intervene in the matter considering that the Dutch operations are profitable

Tata Steel Europe, a subsidiary of Tata Steel India, has decided to cut 2,500 jobs, or 25 per cent of its work force, in Europe to save $930 million in costs, Dutch media outlet NH Nieuws reported on Monday.

Quoting a memo to employees, the company said Tata Steel Nederland would have to contribute “a large part of this amount or ^170 million in cost savings”. The job cuts will be across Tata Steel’s Europe plants in the Netherlands, France, England and Belgium, the media outlet reported, citing Central Works Council’s Vice-chairman Gerrit Idema.

The worker union said it will intervene in