2,800 jobs are at stake when Tata Steel closes the Port Talbot blast furnace in Britain

2,800 jobs are at stake when Tata Steel closes the Port Talbot blast furnace in Britain

2,800 jobs are at stake when Tata Steel closes the Port Talbot blast furnace in Britain

The two high-emission blast furnaces and coke ovens at Port Talbot, according to Tata Steel, will be shut down gradually. The first blast furnace will shutter in the middle of 2024, with the remaining heavy ending assets will close in the second half of the same year.

On January 19, Tata Steel said that it will phase-out the closure of two blast furnaces at its Port Talbot steelworks in Wales, UK. This action might have an impact on 2,800 employment, despite the steel giant's pledge to reverse its losses and initiate restructuring negotiations. -linking UK business to its environmental objectives.

"Commence statutory consultation as part of a plan to transform as well as restructure its UK business," the firm said. The goal of the strategy is to turn around almost ten years of losses and move away from outdated blast furnaces and toward a greener, more sustainable steel industry."There has to be a change."

"Port Talbot's two high-emission blast furnaces as well as coke ovens will be closed in a phased manner, with the first blast furnace closing in mid-2024 as well as the remaining heavy ending assets during the second half of 2024," a statement from Tata Steel said. will be completed." submitting an exchange.

A thorough reorganization of the company's other facilities and activities is also part of the plan, with the Continuous Annealing Processing Line (CAPL) scheduled to shut in March 2025.

Next week, on January 24, the steelmaker is anticipated to release its third-quarter results.

reductions in jobs

Over the next 18 months, the steelmaker claimed, 2,500 of the 2,800 positions that are anticipated to be impacted by the reorganization will be impacted. A plan to keep portions of the site's mills operational to roll steel slabs might preserve some 200 jobs, according to the British media source The Guardian.

Tata Steel turned down the union's request to keep only one blast furnace. Rather, it changed its plan and promised to keep running the Port Talbot hot strip mill throughout the future transition phase. The business said that it is not "viable or economical" to keep producing blast furnaces.

The decision is a serious setback to a community whose local economy is mostly based on a single industry, according to UK media sites. TV Narendran, the CEO, said, "We believe that this proposed transformation will have a major impact on the people and organizations concerned, who we will support with respect and compassion."

The corporation plans to maximize voluntary layoffs and is offering to provide impacted staff with a comprehensive assistance package worth over £130 million.

After the necessary investment in Port Talbot is finished, the firm anticipates that another 300 jobs will be impacted over the course of three years. These positions may include the consolidation and rationalization of cold rolling equipment at Llanwern.