Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Tata Steel to cut 3,000 jobs at Port Talbot

by January 18, 2024
January 18, 2024
Tata Steel to cut 3,000 jobs at Port Talbot

Tata Steel is to push ahead with plans to close both blast furnaces at its Port Talbot works in south Wales.

The move is expected to lead to the loss of up to 3,000 jobs.

The decision follows a meeting between Tata executives and the Community, GMB and Unite unions at a London hotel today.

It is expected to be formally announced by Tata tomorrow.

Tata is planning to replace the blast furnaces – which produce new steel from iron ore – with a modern electric arc furnace.

This will produce usable steel from scrap metal. It will be more environmentally friendly to operate, but require a smaller workforce.

Last year, the government said it would support the £1.25bn plan with up to £500m of public money.

A plan put forward by the GMB and Community had argued that one of the blast furnaces should be kept open for a transitional period, alongside a new electric arc furnace, to safeguard jobs and preserve the UK’s ability to make new steel. However, Tata has been reluctant to do this because of the costs involved in keeping the existing furnaces and support operations going.

Tata Steel’s Port Talbot plant is the largest steelworks in the UK, it currently employs 4,000 of the company’s 8,000-strong UK workforce.

These plans would see 75% of of the workforce at Port Talbot lose their jobs.

It is understood that a large proportion of these 3,000 jobs will be gone by September of this year.

The first job losses are likely to begin in April, with more following in September.

Read more:
Tata Steel to cut 3,000 jobs at Port Talbot

0
FacebookTwitterGoogle +Pinterest
previous post
The Fitness Group Grows with 10 New UK Training Centres 
next post
UK banks expect sharp rise in defaults on unsecured debt

You may also like

London universities team up to support new startups...

October 16, 2023

Your survival guide to the office Christmas party

December 14, 2023

Lord Sugar’s Amshold returns to profit as property...

November 26, 2024

Folding bike pioneer Flit raises £1.2m to challenge...

February 19, 2025

UK banks pull hundreds more home loan deals...

June 6, 2023

Nearly a third of the world’s biggest news...

September 19, 2023

Getting to Know You: Warren Mead, CEO of...

August 1, 2024

Dale Vince expresses interest in acquiring The Observer...

December 1, 2024

Getting to Know You: Walter Greenfeld, CEO of...

November 21, 2022

Why All-Inclusive Hair Transplant Packages Are the Smart...

April 27, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • NDAs banning harassment and discrimination disclosures to be void under new UK workplace reforms

      August 7, 2025
    • Bank of England cuts interest rates to 4% in historic two-round vote amid economic slowdown

      August 7, 2025
    • Trump-Putin meeting agreed upon ‘in principle,’ Kremlin aide indicates

      August 7, 2025
    • Why Transparency and Trust Are Crucial for UK FX Brokers in 2025

      August 7, 2025
    • Smarter Condo Communities Start with Better Finances and Better Software

      August 7, 2025
    • 3 Smart Ways UK Entrepreneurs Can Diversify Their Income

      August 7, 2025

    Categories

    • Business (8,703)
    • Investing (2,179)
    • Politics (16,330)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved