Tata steel to cut 3,000 European jobs

Tata steel to cut 3,000 European jobs

Tata Steel is planning to cut around 3,000 jobs in Europe. The company said the job cuts are necessary as it wrestles with excess supply and high costs. The management said that challenging market conditions had been ’made worse by the use of Europe as a dumping ground for the world’s excess capacity’.

Simone
Simone
Michael Shields
Michael Shields 4 months

China uses shifty market practices to put european steel companies under severe financial pressure... Corrupt/inept european governments accept bids from Chinese steel companies to buy out these beggared european firms... The new chinese owners then shut down any real profitability of the european steel companies, ensuring that China's domestic economy consolidates the global steel market. The CCP is fighting a financial war with the rest of the world, and our governments are too fucking cowardly or corrupt to stand up to it.

Voice of Reason
Voice of Reason 4 months

A result of the failure of Europe to protect its local manufacturing sector. They'd rather target US goods instead of complain about Chinese dumping.

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