Brief by Shorts91 Newsdesk / 06:29pm on 31 Jan 2024,Wednesday International
Tata Steel's CEO, TV Narendran, informed MPs that plans to shut blast furnaces at Port Talbot steelworks, eliminating up to 2,800 jobs, are "pretty much" settled. The shift towards an electric arc furnace is seen as a competitive and greener move. Narendran emphasized it's the beginning of a new steelmaking era. The majority of job cuts affect the UK's largest steelworks in South Wales. Tata received £500m in taxpayer funding for the transition. Unions call for reconsideration, warning of a potential "major industrial dispute." Statutory consultation on job losses is pending.
