Sunday 12 July 2020

Job losses threat at Tata Steel IJmuiden as merger draws near

Storm clouds over Tata Steel in IJmuiden? Photo: Depositphotos.com

Steelworkers at Germany’s ThyssenKrupp overwhelmingly approved plans for a merger with India’s Tata Steel which would create Europe’s second-largest steelworks after ArcelorMittal. The transaction is designed to cope with production overcapacity in Europe.

The deal is far less popular in IJmuiden where up to 2,000 jobs could be lost at the former Hoogovens plant, the IJmuider Courant has said.

Tata Steel has agreed with the unions involved to study the possible job losses in IJmuiden. A similar number of jobs would be affected at ThyssenKrupp plants in Germany.

The merger is expected to be completed in the fourth quarter of the year after due diligence. ThyssenKrupp Tata Steel will be headquartered in Amsterdam.

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.