Advertisement

  1. National

Port Talbot management in 'steelworks takeover bid'

A potential buyout of the Port Talbot steelworks is to be led by one of its most senior staff.

Stuart Wilkie, Managing Director of Tata Strip Products UK, is heading up a buying team alongside other staff members, ITV News understands.

Meanwhile Tata Steel has announced another round of job cuts in Britain as it significantly reduces production.

The company is to cut 1,050 jobs in the UK, including 750 at its plant in Port Talbot in Wales. A further 300 jobs will go in Llanwern, Trostre, Corby and Hartlepool.

View all 13 updates ›

Tata Steel confirms 1,050 job cuts across Britain

Tata Steel confirmed the job losses on Monday morning. Credit: PA

Tata Steel has confirmed it is cutting 1,050 jobs at sites across Britain.

The company said the proposed cuts follow "continued falls in the European steel price caused by a flood of cheap imports, particularly from China".

Karl Koehler, Chief Executive of Tata Steel’s European operations, said: “I know this news will be unsettling for all those affected, but these tough actions are critical in the face of extremely difficult market conditions which are expected to continue for the foreseeable future."

  • 750 jobs are to be cut at Port Talbot in Wales
  • A further 200 will go in support functions
  • And 100 jobs will be cuts at steel mills in Trostre, Corby and Hartlepool

Tata, which cut 1,200 jobs at sites in Scunthorpe and Lanarkshire in October, is Britain's largest remaining steel producer. Monday's announcement means the size of its UK workforce has reduced by nearly 3,000 in the past six months.

  1. Read more
  2. 13 updates
Port Talbot management in 'steelworks takeover bid'

More on this story