The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.1 - Manufacture of basic iron and steel and of ferro-alloys
400 jobs Number of planned job losses
Announcement Date
1 July 2014
Employment effect (start)
1 July 2014
Foreseen end date
Description
Owned by Indian conglomerate Tata, Tata Steel has announced plans to cut around ten per cent of the workforce at its Port Talbot site. Located in Wales, the site currently employs 4,000 workers, so this reduction in the level of staffing at the site would represent approximately 10 per cent of workforce employed at this site.
The strip products part of the business, responsible for producing sheets of steel used to make items such as tin cans, cars, roofing and fridges, is the focus of the job cuts. The decision to reduce the level of employment at this site has been attributed to falls in the price and demand for steel in Europe. The company has commenced a consultation process with the impacted employees. This consultation process will last at 45 days. The company has signalled that compulsory redundancies may be required as business requirements will mean that it needs to retain employees with specific skills.
This latest announcement of job cuts by Tata Steel follows an earlier reduction of almost 600 jobs at the same Port Talbot factory in November 2012. These earlier job losses were part of a broader programme of redundancies in the UK that also included earlier rounds of job losses in Scunthorpe (1,500 jobs) and Corby (100) (see here).
Sources
1 July 2014: South Wales Evening Post
1 July 2014: The Guardian
Citation
Eurofound (2014), Tata Steel, Internal restructuring in United Kingdom, factsheet number 77283, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77283.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
