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Tata Steel to slash 3,000 jobs, trimming European team by 10%

Indian steelmaker reduces costs after aborted ThyssenKrupp merger

Factory-floor workers will be affected by up to one-third of the job cuts at Tata Steel Europe.   © Reuters

MUMBAI -- India's Tata Steel will cut 3,000 jobs in Europe, more than 10% of the regional workforce, as the steelmaker looks to reduce costs amid the economic slowdown on the continent.

White-collar office staff will make up two-thirds of those affected, Tata Steel said on Nov. 18. The group has not revealed a time frame for the layoffs, nor any extraordinary losses that would result. The move follows a failed merger attempt with German peer ThyssenKrupp.

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