Unions want Tata Steel to review alternatives
Tata Steel labour representatives, slated to meet chairman Cyrus Mistry later this month, are seeking a commitment from the company to consider possible alternatives put forth by its own experts to the sale of the steelmaker's long products business in Europe. Tata Steel said last month that it has entered into an agreement with Swiss-based Klesch Group to undertake due diligence and negotiations for the potential sale of its long products business and associated distribution activities, which employ about 6,500 people. But unions think that the total number of employees dependent on the long products business can go up 15,000 if contractors and the supply chain are included.
Read the Economic Times news report here.