Tata Steel is cutting 3000 jobs across Europe, forced by the continuing decline in steel demand from car manufacturers. Some 1600 jobs are likely to be lost at the company’s plants in the Netherlands.
Tata Steel employs 21 000 employees in Europe, more than half of which are the Netherlands. Some 9000 people work at the IJmuiden plant near Amsterdam. Tata also has branches in Maastricht, Oosterhout, Nieuwegein and Moerdijk.
Falling car sales
Several factors worldwide are affecting Tata’s performance in Europe. Sales within the automotive industry have declined, which directly affects Tata’s own sales. Carmakers are the main purchaser of steel from Tata’s IJmuiden plant, followed by the packaging industry.
Another factor is the imposition by the US of high tariffs on foreign steel imports, which has resulted in cheap Chinese steel flooding the European market, providing a cheaper alternative to Tata’s products.
Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.