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.
