UK operations News

Tata Steel in the UK on Friday warned its employees that the new pension scheme is heading for a huge shortfall of 2 billion pounds (USD 3 billion) as unions prepared to announce the results of a ballot to determine industrial action against the Indian steel giant.

Facing with USD 3 billion shortfall in pension funds in UK operations, Tata Steel on Friday said that any industrial action against its proposed changes in the pension scheme will be "self-defeating" and will "jeopardies" a sustainable business in country.