(MENAFN- AFP) India's Tata Steel intends to cut 900 jobs at its British operations and close 12 sites, the firm said on Friday in a major restructuring to respond to "difficult" trading conditions.
"Tata Steel has today announced restructuring proposals to improve the competitiveness of its UK operations so they can successfully perform in changing markets," it said in a statement.
"The proposed changes are expected to lead to a net loss of 900 jobs" -- including 580 in south Wales.
"These restructuring proposals will help make our business more successful and sustainable, but the job losses are regrettable and I know this will be a difficult and unsettling time for the employees and their families affected," said Karl-Ulrich Koehler, chief executive of Tata Steel's European operations.
He added in the statement that the restructuring would transform the group into a steelmaker "capable of succeeding in difficult economic conditions."
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