Tata Steel to Cut Around 20% of Dutch Workforce

Tata Steel operates a large steel plant at IJmuiden, on the coast west of Amsterdam.

SEATTLE (Scrap Monster):  Tata Steel is looking to cut around 1,600 jobs in the Netherlands, reducing its workforce in the country by roughly 20%, Dutch news agency ANP reported on Wednesday.

A spokesperson for Tata Steel Netherlands declined to comment on the report.

Tata Steel operates a large steel plant at IJmuiden, on the coast west of Amsterdam.

The Dutch division reported a loss of 556 million euros ($613.05 million) in the year through March 31, 2024, as it was hit by high energy prices and competition from cheap imports from China.

 The company is now also facing larger import tariffs from the United States.

The company was planning to inform employees later on Wednesday, ANP said citing people with knowledge of the situation.

 Courtesy: www.reuters.com