Tata Steel axe 600 jobs at Port Talbot and Llanwern
TATA Steel is cutting almost 600 jobs at its Port Talbot and Llanwern works. Most of the losses will be management and administrative posts in Port Talbot, in what the firm describes as a restructuring of the business to help make it more "sustainable".
The company is also closing its sites in Crosskeys and Tredegar, while axing 155 jobs in Yorkshire, 120 in the West Midlands and 30 on Teesside. In total some 900 jobs are being lost.
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Tata Steel is cutting almost 600 jobs at its Port Talbot and Llanwern works
Karl Kohler, chief executive of Tata Steel Europe, said: "Today's proposals are part of a strategy to transform ourselves into an all-weather steel producer, capable of succeeding in difficult economic conditions."These restructuring proposals will help make our business more successful and sustainable, but the job losses are regrettable and I know this will be a difficult and unsettling time for the employees and their families affected."
The steel giant suffered a massive fall in profits in the first half of this year — group profit after tax was £27,586,196 for the first half to the end of September, compared to £657,235,950 in the previous year.The firm is currently in the final stages of construction on a £185million blast furnace at Port Talbot.
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A Welsh Government spokesman said the news of the job loses was "very disappointing" and a "massive blow" to those affected.He said: "The Welsh Government has a very strong relationship with the company, and officials will now work with Tata to establish a task force and identify what support we can provide for those affected. "Tata's decision reflects the serious and ongoing challenges faced by manufacturing industries during these very difficult economic times."He added: "In addition to these challenges, it is clear that high energy costs and uncertainty over UK Government energy policy are having a significant impact on business investment decisions."
Comments
by leighrichards
Saturday, November 24 2012, 2:50AM
“Geoboy your mistaken ...the welsh government doesnt sadly have the economic powers needed to have helped prevent these losses.....its the useless british government's disastrous economic policies that has caused the economic downturn that has led to tata making these redundancies......”
by Kaiser_Macsen
Friday, November 23 2012, 7:57PM
“EvansTheCrime reporting this?”
by siarad2
Friday, November 23 2012, 7:50PM
“@Stork
You're right India, the home of Tata, is going ahead with cheaper & safer nuclear using thorium as fuel.
If we don't wake up we'll be left well behind.
China is investing in thorium too, along with many countries while we waste resources & future jobs on wind & argue over tidal.”
by beano12345
Friday, November 23 2012, 6:54PM
“Boycott Tetley Tea Bags, check who makes them.”
by williamwaun
Friday, November 23 2012, 6:46PM
“Sad times for the hard workers there, but I'm sure many would be happy if their retiring in the next few years. People throughout Wales have been through this over the past 10 years. Companies close go abroad and leave the community struggling. Lets hope the people are able to get another job.”
by Eric_Pode
Friday, November 23 2012, 5:48PM
“Stork
There's the G word, the P word and the F word: Gas Powered Furnaces.”
by Neathboy234
Friday, November 23 2012, 5:41PM
“Dooyah your correct. Under EU law other than training money no other aid can be given.”
by Dooyah
Friday, November 23 2012, 4:49PM
“geoboy01
A big problem with the WG helping is that it's illegal.”
by Stork
Friday, November 23 2012, 4:33PM
“I see that WAG mention the E word, ......energy costs. Let's hope the UK Government looks seriously at other energy sources rather than wind and solar power, otherwise there's a danger that other companies might go the same way. It's easy to lose 600 jobs, it's a big problem to replace them.”
by geoboy01
Friday, November 23 2012, 3:21PM
“TERRIBLE NEWS good paid jobs gone again in Wales
what did this W.G do to help? bU**er all!!!!!!”