MUMBAI: India’s oldest steelmaker Tata Steel is looking to restructure its domestic business to reduce costs and increase productivity as poor demand and heightened competition from imports have shrunk profits, according to several people familiar with the matter.
Restructuring at Tata Steel will take place across all business functions such as human resources, production, transportation, marketing and so on. The company is in touch with all big consultants in India to roll out several cost-cutting and revenue enhancement projects.
“There’s definite restructuring about to take place in the company, and in the white collar segment. The ‘Big Four’ have been asked to bid for multiple projects where each one will have a hand in driving…
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