India-based Tata Steel Ltd. Friday announced plans to cut about 900 jobs at its U.K. operations as part of a wider restructuring.
“Today’s proposals are part of a strategy to transform ourselves into an ‘all-weather’ steel producer, capable of succeeding in difficult economic conditions,” Karl Koehler, chief executive of Tata Steel’s European operations, said in a statement. “These restructuring proposals will help make our business more successful and sustainable.”
The cuts come as part of a set of proposals aimed at the restructuring of Tata’s management and administrative functions. The changes would concentrate the company’s U.K. services at six distribution and processing hubs, leading to the closure of 12 sites. The remaining hubs will benefit from 22 million pounds ($35.1 million) of investment, the company said…
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