Table of Contents
A planned strike at Port Talbot steelworks has been called off after its Indian owner threatened to close the plant early.
Members of the Unite union have been taking industrial action, including banning overtime, and plan to go on full strike from Monday next week.
The union is embroiled in a dispute with Tata Group over plans to close the two blast furnaces at its plant in south Wales and switch to greener steel production with fewer workers, which would cost 2,800 jobs.
Strike threat: Tata, the Indian owner of Port Talbot, wants to close the plant’s two blast furnaces and switch to greener steel production with fewer workers, which would cost 2,800 jobs
But the union said industrial action and next week’s strike have been called off.
Unite said Tata had agreed to open talks on “future investment in its operations and not just redundancies in South Wales”.
Unite general secretary Sharon Graham said: “This is a significant step forward in the battle to protect jobs.”
Last week Tata threatened to close its Port Talbot steelworks this week. The government has granted it a £500m bailout to switch to electric arc furnaces.
Some 2,800 steelworkers face redundancies under the proposals, but Tata said the alternative was plant closure with the loss of 8,000 jobs.
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investment and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free investment ideas and fund trading
interactive investor
interactive investor
Flat rate investing from £4.99 per month
eToro
eToro
Stock Investing: Community of Over 30 Million
Trade 212
Trade 212
Free and commission-free stock trading per account
Affiliate links: If you purchase a product This is Money may earn a commission. These offers are chosen by our editorial team as we believe they are worth highlighting. This does not affect our editorial independence.
Compare the best investment account for you
