By Christian Moess Laursen

Tata Steel said it expects up to 2,800 employees will be affected from a restructuring of its U.K. business, in a move to reverse more than a decade of losses and transition to a sustainable steel business from the legacy blast furnaces.

The Indian multinational steel-making company said Friday that around 2,500 roles would be affected in the next 18 months.

Under the reorganization, Tata Steel will invest 1.25 billion pounds ($1.59 billion) in electric arc furnace technology in Port Talbot in South Wales and asset upgrades "to secure long-term, high-quality production" at the U.K.'s largest steelmaker, it said.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

January 19, 2024 08:35 ET (13:35 GMT)