Tata Steel says 2,045 Europe jobs at risk

Tata Steel says 2,045 Europe jobs at risk
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First Published: Thu, Jun 25 2009. 07 21 PM IST
Updated: Thu, Jun 25 2009. 07 21 PM IST
Mumbai:Tata Steel Ltd , the world’s sixth-largest steel maker, on Thursday said that 2,045 jobs in European operations were at risk due to a fall in steel demand in Europe and America.
It said in a statement that its Corus unit was opening consultations on the jobs, which are at its facilities in the UK, Netherlands and Scotland.
Tata Steel, which earlier reported a lower-than-expected consolidated net profit for the year to March, said it had strong liquidity and no material repayment or refinancing in the next 12 months.
It said its cash and cash equivalents stood at $2.1 billion on 20 June and it had an undrawn bank facility of $1.3 billion.
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First Published: Thu, Jun 25 2009. 07 21 PM IST
More Topics: Steel | Tata Steel | Corus | Job Cuts | Company Result |