The 'Save our Steel' campaign that UK unions have been running for several months is yielding results in so far as on 07 December the Indian Steel company Tata Steel committed to remaining in the UK and maintaining jobs for five years. In exchange, major pensions compromises have been wrought.
Eight months after Tata Steel announced it would be exiting the UK steel industry the company has, under consistent pressure from the unions, agreed to remain. On 07 December the Indian Steel giant, which currently employs 8,000 in the UK, together with the Unite, GMB, and Community unions signed an agreement whereby the Port Talbot site (Tata’s biggest UK site) will remain in production for at least five years, £1 billion (€1.17 billion) will be invested over ten years to support production, and all redundancies should be avoided for the next five years.
Do you have information to share with us?