Tata bidder UKs Excalibur Steel may cut 1000 jobs
The Dollar Business Bureau Excalibur Steel UK Ltd, one among the potential bidders of Tata’s steel business in UK, is planning to cut another 1,000 jobs if it is successful in the bidding process. This is in addition to the 1,000 jobs already declared by Tata management earlier. Excalibur and Indian tycoon Sanjeev Gupta’s Liberty House are the two potential buyers. To free itself from the burden of £1 million losses per day, Tata Steel is expecting a quick sale of its UK steel business. It is waiting for receiving letters of intent from the prospective buyers. It held talks with 190 potential bidders for its biggest plant in the UK - Port Talbot in south Wales, where around 4,000 people work ...
