Business Live with Ian King: Thousands of Port Talbot steel jobs axed under green shift
January 19, 2024
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23:10Now PlayingBusiness Live with Ian King: Thousands of Port Talbot steel jobs axed under green shift
YouTube Description
as posted by the channelJoin Ian King and guests as more than 3,000 jobs are to be axed at the country's biggest steelworks, it has been confirmed.
The losses come as Tata Steel announced it was to press ahead with plans to close blast furnaces at the Port Talbot plant in South Wales.
The steel giant in September confirmed details reported by Sky News that it had secured £500m of taxpayer cash to support the site's transition to cheaper, greener steel production to cut emissions and stem financial losses.
Job cuts had been expected as part of the deal though 5,000 UK staff are due to remain within the wider UK operations following the agreement with the government.
The redundancies, to be completed by March next year, will see three-quarters of the 4,000 staff on site put out of work.
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