Tata Steel To Fire 3,000 Workers In Europe Citing Slowdown And Weak Market Demand

Tata Steel, the Indian steel manufacturer, has announced that it will be slashing 3,000 jobs across its operations in Europe, citing a global consumption slowdown and the uncertainty surrounding the U.K. general elections and Brexit that is scheduled to follow right after."Stagnant EU [European Union] steel demand and global overcapacity have been compounded by trade conflicts, which have turned the European market into a dumping ground for the world's excess steel capacity," said Tata Steel in