Business Live with Ian King: Thousands of Port Talbot steel jobs axed under green shift

Join Ian King and guests as more than 3,000 jobs are to be axed at the country's biggest steelworks, it has been confirmed. The losses come as Tata Steel announced it was to press ahead with plans to close blast furnaces at the Port Talbot plant in South Wales. The steel giant in September confirmed details reported by Sky News that it had secured £500m of taxpayer cash to support the site's transition to cheaper, greener steel production to cut emissions and stem financial losses. Job cuts had been expected as part of the deal though 5,000 UK staff are due to remain within the wider UK operations following the agreement with the government. The redundancies, to be completed by March next year, will see three-quarters of the 4,000 staff on site put out of work. Latest business news 👉 https://trib.al/unXvp4J Money advice blog 👉 https://trib.al/wEeVvFT #Business #BusinessLive #Economy #Inflation #InterestRates #Finance #SkyNews #Live #Mortgage #Employment #Forecast #Banks #Retail #Sales #Christmas SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí: https://www.youtube.com/channel/UCzG5BnqHO8oNlrPDW9CYJog To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales