Fresh Port Talbot jobs fears as Tata Steel’s Chandrasekaran says he will not ‘tolerate losses’
There were fresh fears for 4,000 Tata steel workers in Port Talbot after the boss of its Indian owner said he would not tolerate losses.
Natarajan Chandrasekaran, who has been chairman of Tata Sons for three years, said the plant in South Wales, which went £371 million into the red last year, up from £222 million the year before, had to become self-sustaining.
The Port Talbot steelworks complex in Neath Port Talbot, South Wales, UK
‘We can’t have a situation where India keeps funding the losses just to keep it going,’ he told The Sunday Times.
‘Everyone will tell you the Tatas have gone way beyond to keep this going. Anybody else would have walked away.’
Tata paid £6.2 billion for the Anglo-Dutch steelmaker Corus in 2007, which owned the Port Talbot site.