Tata Steel to restructure domestic biz

The steel major is said to be in consultation with some big firms, including EYE, KPMG, PwC, and Deloitte for several cost-cutting and revenue enhancement projects.

With an aim to cut costs and increase productivity, Tata Steel Ltd is looking to restructure its India business, reported a financial daily. Sluggish demand in domestic markets, increasing cheap imports, and shrinking profitability are considered to be the key factors behind the company’s latest move.

The steel major is said to be in consultation with some big firms, including EY, KPMG, PwC, and Deloitte for several cost-cutting and revenue enhancement projects. The business restructuring will take place across functions including human resources, production, marketing, etc.

Compared with rival JSW Steel, Tata Steel has an annual production capacity of 10 MT with workforce of nearly 37,000; while JSW’s total annual production capacity stands at 14.3 MT, with a headcount of over 12,200.