Tata Steel to axe thousands of jobs at Port Talbot
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- Опубликовано: 18 янв 2024
- More than 2,800 jobs are to be axed at the country's biggest steelworks, it has been confirmed.
The losses come as Tata Steel announced it was to press ahead with plans to close blast furnaces at the Port Talbot plant in South Wales.
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Развлечения
Well here's a brief one-liner summary.
TATA Steel (world's one of the biggest and the best steel manufacturers) was forced to spend $3.5 bn. (to achieve net zero carbon emissions target of EU/uk, by shutting down all the blast furnaces and bringing in Electric furnace) at a loss making plant in Britain (obviously Tata refused and demanded "at least" half of the burden to be bear by the govt., cuz it was their aspirations/target not company's) but Britain is crumbling nowadays they offered only $500mn.
TATA with a heavy disappointment accepted as both UK and Indian authorities were begging them not to sell the plant (china might buy).
So to achieve UK/EU target 🎯 they did this. As electrical furnaces require very few people.
Deindustrialization of the UK and they can't even blame Putin for it.
Fuk the right wing working class arse holes
Hey mate wake up, Deindustrialisation started in 1979
TATAMOTORS SHOULD ASK FOR SUBSIDIES TO CONTINUE IN THE
UK. OUR TATA LOSING ONE MILLION DOLLARS A DAY IS UNACCEPTABLE.
Net zero is great isnt it 😂😂😂
Port Talbot makes a fortune from average speed limit fines
Then slow down ! It’s not difficult.
Looks like we really did say "ta-ta" to that money 🙃
Whole Welsh economy to rely upon fines collected by speed cameras soon. Growth in the fast lane.
Surprised, surprised. It’s Tata Steel.
Iirc in 2016, many locals and steel workers were very pro Brexit.
Fuk them!
We are in this situation because the EU never took action on cheap Chinese steel dumping. Then after Brexit the expectation was that the UK will be able to stop China and revive the industry but it didn't!
Tata clearly didn't want to have to axe any jobs. It is not their general policy to have people lose their jobs.
Tata is run by a large moral compass with over 66% of their group shares being given to their charitable organisations and is considered the most trustworthy/reliable employer by many.
@@cts4044 bla bla blame the EU but TATA Netherlands is building another plant
@Jonfeller They fired 800 people in the Netherlands. They're building a new plant that is greener but not hiring back 800 people.
From Reuters:
"The company is working with the Dutch government on plans to switch to greener ways of making steel... In its latest plan, Tata said it would replace production based on coal and iron ore with ovens running on metal scrap and hydrogen by 2030"
@@cts4044 people out of work, that's capitalism, tractors and machinery put thousands out of work on farms and in the cotten mills during the industrial revolution, this gave rise to the luddites.
Unions should be protesting against government who are forcing TATA.
It is sad to see whole town jobless
They voted for Brexit and now act surprised that they're unemployed.
There are a lot more stuff going on in port talbot 😅not only tata steel
@@user-bi8ko7kc6hand that lot more stuff was depending on steel factory
So Labour and the unions who support them want them to keep the plant but Labour wants green 🤣🤣
"mUh Aid mOnEy reeee"
😂😂
According to the Welsh first minister its Brexit. Not happening to Tata in Europe, only Wales.
Nationalize it
Happy that the jobs will be shifted back to India. 🇮🇳 But the finished steel product from India will be sold at a profit to the UK market 😂😂….this is how the British empire bankrupted our pre industrial firms in 1800s india as they sold machine finished products to Indian market. Uk is on the verge of getting a taste of its own medicine 😎👍
No they will shift it to other European countries
There’s a lot of people in the comments that have no idea what they’re talking about
Traveling around Britain is a shocking experience since the poverty knew everywhere outside the Golden south east is trulydreadful
Economic vandalism.
That’s net zero for ya.
@@neilw.3012 Totally.
@@NoWindNoSunNoPower Absolutely.
Well here's a brief one-liner summary.
TATA Steel (world's one of the biggest and the best steel manufacturers) was forced to spend $3.5 bn. (to achieve net zero carbon emissions target of EU/uk, by shutting down all the blast furnaces and bringing in Electric furnace) at a loss making plant in Britain (obviously Tata refused and demanded "at least" half of the burden to be bear by the govt., cuz it was their aspirations/target not company's) but Britain is crumbling nowadays they offered only $500mn.
TATA with a heavy disappointment accepted as both UK and Indian authorities were begging them not to sell the plant (china might buy).
So to achieve UK/EU target 🎯 they did this. As electrical furnaces require very few people.
It’s probably down to the 20 mile speed limit making it more expensive to transport
We all know we are in this situation because the EU never took action on cheap Chinese steel dumping. Then after Brexit the expectation was that the UK will be able to stop China and revive the industry but it didn't!
Tata clearly didn't want to have to axe any jobs. It is not their general policy to have people lose their jobs.
Tata is run by a large moral compass with over 66% of their group shares being given to their charitable organisations and is considered the most trustworthy/reliable employer by many.
what a load of crap. It's all about India cutting their loss.
@@thewelshdragon.5979
He doesn’t have a clue what he’s on about mate, I suspect he’s a bit dim. We’ve had Chinese anti dumping since 2016, which was brought in by the EU.
@@thewelshdragon.5979 No, it's about Tata cutting their losses. They have no problem in the Netherlands. The UK was/is their Europe HQ!
@@thewelshdragon.5979exactly why would they make 1mill per day loss..to fulfill UK's dumb policies..
Winds of change!!
Most of the post-war industries such as blast furnaces and steel works, etc, have lost their ability to operate in a price-competitive globalized economic ecosystem.
Only a few years back many NE and possibly some SE Asian Nations, were dumping steel below or at the cost of production to deal with the dead-weight losses and excess capacity in the American Market (I believe these were the Clinton Years).
The UK Economy needs new businesses with a vision and a mission statement, a new micro-investment model, and above all a complete reset in terms of macroeconomic paradigm, which must begin to separate the BOE Monetary Policy from other regulatory activities such as macro-prudential policies, etc. to minimize systemic risk and foster productivity.
That way economic capital can be allocated optimally to risk-sensitive segments of the economy providing higher returns on both equity and volatility.
Think it is time we done it ourselves we can't depend on overseas people this can't carry on it seems companies are pulling out or cancelling business
Stock prices will.go up
😱😱😱 how did we fail to prevent this?
Sunak let them do it, because we will now have import steel from India. Vote labour get this corrupt government out, Solidarity to the workers 🇬🇧
I thought Tata was Indian owned
Blame pro climate activist..😪
jobloss doesnt matter what matters is less carbon emission , all hail mainstream media
This will affect more people in the community. We will end up like America. Ghost town's with homeless people.
£500m paid to TATA
What for?
How much pocketed by Rishi's in-laws?
Muslim spotted.
@@VanessaEdwards13christian spotted 😂
That's not to save job, it's to save the company. To save Joba 10 times more was required.
For net zero silliness
Millions
It was underinvested because Tata was investing in the EU.
Simple as that.
If workers want to save their jobs, they should go to China, India or the USA to sell the steel. If they get contracts over there I bet Tata will stay in the Global Britain.
They might take Farrage and Bojo with them, they know how to make Great deals.
All thanks to “green initiatives”.
The cost of climate will get worse and worse for generations to come. We have to pay the price for all the benefit burning fossil fuels have given us. However, the end of Port Talbot is directly connected to Murdoch, I'm sorry - I meant Britain - wanting to step away from Europe and all of their human rights protections.
UK Government Gave Tata Steel £500,000,000 to support them, their worth 300 Billion pounds
Seems like Sunak might have personal interests
Stupid, TATA Steel parent company of tata steel UK have a worth over $20 Billion. Tata steel UK is worth around $1 billion. Every company subsidiary works differently like a separate entity 🤦🏻. Wtf £ 300B get your self educated
Trust Indians at your peril. 😂
Uk govt wants tata to spend 3 bil on a loss making plant while offering only 500 mil on their end for their nonsense policy
Half-truth aye, mate?
Steel shouldn't get rust. My home staircase railing says jindal steel, it is same firm like Tata steel in Jamshedpur
This is fantastic news for the indian economy
We Indians don't want to grow our economy at the expense of UK people going Jobless.
@@MrMoron-fh6wqYou are not a indian😂😂😂
Aid for overseas, Rhiwanda coffers to go to Tata.
The installation of, 'electric arc furnace'.. I wonder, were Tata eligible for 'Super Decuctions' on those investments?? Another example of big corporations getting huge tax reliefs to actively cause mass unemployment if so!! Well done Rishi 👏 edit: I meant Deductions!!! "Super Deductions" Look them up 🙄👌👍
New nuc power station needed to supply enough electricity.. When does that happen
Wow 😂 the ignorance... Typical Brit.
No, they were forced by the EU and later the UK to unsustainably "go green".
We all know we are in this situation because the EU never took action on cheap Chinese steel dumping. Then after Brexit the expectation was that the UK will be able to stop China and revive the industry but it didn't!
Tata clearly didn't want to have to axe any jobs. It is not their general policy to have people lose their jobs.
Tata is run by a large moral compass with over 66% of their group shares being given to their charitable organisations and is considered the most trustworthy/reliable employer by many.
Be like Donald! Put 25% tariff on imported steel. Problem solved! Thanks Donald.
What will that do to British manufacturers?
@@baronvonchickenpants6564more production..and cut losses?
good for environment
I belive Tata must come out with Something and save those 3,ooo job because time is bit Hard
and even the British Government must impose huge senction on imported steel that only can save these Jobs
PM and his friends
We need to have government owned and operated strategic resources.
Why? so that tax payers can instead pay to keep people employed in unprofitable jobs?
@@vinzent1992 its strategic.
@@DRobbo7798 not for profit, use the steel the build houses or such. Hs2 needs steel..
Buddy that's called communism 😂😂😂
Nationlise port talbot, man up britain, 😢
well after listening this gives me great satisfaction, Englsih people relying on INDIAN company TATA is INDIAN company
Seem to remember them getting a massive amount of UK Money £500 Million if my memory is correct. To protect jobs in Port Talbot in September 2023. Does this mean we are going to get a refund of Millions now off TATA. Actual report. UK government has agreed a £500m support package for Tata Steel to secure the future of the Port Talbot steelworks, in a deal unions said will have “devastating consequences”, with as many as 3,000 workers expected to lose their jobs.
Tata lost 1.5 million every single day
Tata also put 2 billion after that but still in loss
The £500m is for the EAF, which is why the blast furnaces are closing. Nothing to do with saving jobs
We all know we are in this situation because the EU never took action on cheap Chinese steel dumping. Then after Brexit the expectation was that the UK will be able to stop China and revive the industry but it didn't!
Tata clearly didn't want to have to axe any jobs. It is not their general policy to have people lose their jobs.
Tata is run by a large moral compass with over 66% of their group shares being given to their charitable organisations and is considered the most trustworthy/reliable employer by many.
£500,000,000 for Tory donors ! For Britain £0 !
Exist from uk this is hypocrite country
Let them go green😂😂
Sunak Khan and that fool in Scotland. Wake uk uk they are looking g out for their own😊
When UK 🇬🇧 vote to leave EU , who did they think they will sell their steel to ?🤔😂. UK on its own cannot buy enough steel from TATA to make their operations profitable. The market was EU but uk left the big market
This is not down to net zero, which politicians want us to believe, it is purely down to getting/providing investment. What are salaries of management of Tata??
Now the jobs will come to india or e.u
Brexit u r welcome.😂
every year its the same thing steel steel steel always have issues god, labour wont be happy thats for sure their paymasters will be enraged
What has labour got to do with tata. Wasnt it the tories who gave them millions to bail them out and yet years later they still lay everyone off. Another brexit benefit i suppose.
Jobs disappear and new ones are created, that's how it has always been and how it will and should continue to be. It's peoples own responsibility to stay relevant on the evolving job marked, not the responsibility of companies to stick with old and outdated business practices to keep people employed. If they do they become unprofitable and go under, and then people loose their jobs anyway. Unions were created to protect workers against exploitation, not to prevent progress in society, and they should be ashamed of what they have become.
Then the question should be why did the tories give tata steel 500 million of taxpayers money when they were told by multiple sources that it was non viable.
Wheres our money gone then? Tata have shafted us not the unions.
@@lfcgero35 Easy, because the tories are f***ing idiots mate
@@lfcgero35
Because it was for the EAF, which is why the blast furnace is being closed.
@@beezergutler5488 the electric arc furnace wont start production until 2027 and looks like it actually might be 2028. By then tata will have up and left the uk or asked for more funding. Its not 500 million well spent considering the job losses incurred due to the 2 blast furnaces closing.
THANKS, BREXIT!
Nothing to do with brevity, all to do with the government helping the ukranazis
If TATA Steel's offical reason is true they claim that they are obligated to meet new green/eco friendly targets based on UK law and those changes will require changes to how they run their Steel works. In order to still remain commerically viable while meeting the changes to be green, it will require using a new plant that will use less staff. Brexit may be involved somehow as well but hope that context helps.
Nothing to do with Brexit fool
Omg I need new trainers it must be brexits fault
They must be happy, it is what the Welsh voted for.
Let us all bask in the sunlit uplands of Brexit Britain where nobody wants to stay even if we pay them.
What has immigration got to do with Tata closing down? Your obsession with Brexit is moronic.
Eh nothing to do with brexit it’s net zero silliness
Brexit bonus again
@@craig3420 I was bitten by a dog, must be Brexit
Just badly managed by the parent company based in India.
*Same company which revived JLR from dying in hands of Ford
Of course. They can sell us the same steel using cheaper labour for the same price.
Then tell me why the same company don't have any problems in Netherlands??
In 2023, India received $1.74 billion in foreign direct investment (FDI) from the UK.
£500m paid to TATA What for? Rishi
India owns UK now.
lol ,keep lying , india aint receiving any foreign aid from UK . RATHER U GUYS ARE PAYING IT TO PRIVATE NGO. AND 500 MILLION EUROS IS FOR ELECTRICT BLAST FURNACE
Absolute lie!!! India haven’t received any aid from UK since 2015. Educate yourself first
It is investment not aid according to British foreign ministry. In that case I can say Indian companies are giving billions of dollars aid to UK .
@@debapriyasahoo10True.Britishers crying in the corner😂😂😂
Welcome to the Brexit sir, i am sorry.
Lol.
No big loss. Steel manufacture is one of those things that should really be left to developing nations.
So other countries can control our supply? Steel is important
@@user-bi8ko7kc6h We are better off with more lucrative industries, like tech.
What like china 😂😂
The taxpayer can’t afford TATA
Ratan tata, co owner, should do some charity help, to save this 2800 risk jobs in port talbot.
Already doing for years.. tata steel india and Netherlands profits are used as subsidies for UK steel workers
Norverners need to get a grip u need to get proppa jobs stop talking weird and stop putting graaaaaaavy on everything and realise open plan is the way forward!
so many brexit wins!!!
Re-nationalize the steel industry!!
Take it out the grubby hands of a corporation, who couldn't care less about the UK ,or UK workers!!
Corporations are answerable to investors and give profits on investments, not just workers. If the plant was making losses for many years, it's only natural that they would cut jobs.
6:29 thats racist
not racist , they call dirty steel because it transported using fosil fuel
Dont worry guys Starmer will get this sorted out once he becomes PM
😂😂😂😂😂😂😂or NOT !!!