COMPANIES India’s Tata Steel is seeking government assistance in the Netherlands and the UK to help cut working hours at its Corus subsidiary as the group’s European operations try to cope with a 30 per cent fall in production.
Kaushik Chatterjee, Tata Steel’s finance director, said the company would save £100m ($150m) this year from rationalisation in the UK and Europe, including the reductions in working hours.
