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Tata Steel to lay off over 400 employees in Britain amid changes in European Steel Industry

Tata Steel to lay off 400 employees in Britain amid changes in the European Steel Industry. The company is unable to find a way forward for Orb Electrical Steels and so proposes to close the site, with the potential loss of up to 380 jobs and 26 jobs in Britain's Wolverhampton Engineering Steels Service Centre. This move comes as 2 biggest European economies [Britain & Germany] are already on the brink of a recession.