Tata Steel will lay off 3,000 employees

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New Delhi, November 19, 2019 Tuesday
Tata Steel is also planning to lay off more than 3,000 people due to increased production, lower demand, and rising costs. The company will cut employees from its European office.

In this regard, an official said that Henrik Adam, European CEO of Tata Group, said that the company would cut jobs in the European business quickly.

In this regard, Tata Group says the company plans to improve performance by increasing sales and hiring 3,000 employees in European businesses, with most of the employees being hired.

Earlier in June, Indian company Tata Steel launched a program to enhance European business, with plans to launch steel production in the Netherlands and Wales.

Tata said that the reason for the layoffs is simply the increase in production, low demand and rising costs. The company will not close any office, its purpose is to increase the business of Tata Steel only and to make full profit by March 2021.

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