The European unit has a total steelmaking capacity of 18 million tonnes.
The Indian operations continued their steady performance against a backdrop of lacklustre demand in the market place and increasing imports.
Revenue from China contributed no more than 3 to 4 per cent to the company's total revenue in the latest fiscal.
Since the acquisition by Tata Steel in January 2007, which catapulted the domestic steel major to the world's sixth, this is the first layoff announced by the Corus.
The contract would come into effect in 2009, Tata Steel said.
Speaking on the sidelines of CII annual regional meeting in Kolkata on Tuesday, Tata Steel group CFO Koushik Chatterjee confirmed that production cut continues to be around 40 per cent. Exuding confidence that the company will be able to save 600 million pounds by March as envisaged, Chatterjee said, "The cost saving measures are on track at Corus in line with the target."
The Tata Steel group - comprising Tata Steel and Corus Group, the European steel maker it acquired in January on Wednesday took decisive steps towards integration by setting up a new organisation structure that will become effective January 1, 2008.
They were touted as prestigious takeover trophies won abroad, but there is no mention of the Tatas at the Internet addresses of luxurious car brands Jaguar and Land Rover.
The Tata Steel Group has extended substantial financial support to the UK business and suffered asset impairment of more than 2 billion pounds in the last 5 years.
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
The steelmaker's India basket grew after Tata Steel completed its acquisition of Bhushan Steel under the Insolvency and Bankruptcy Code process and its subsidiary, Tata Sponge, acquired Usha Martin.
The company said it had extended financial support to the UK business.
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 29,008 and 8,767 respectively.
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