Tata Steel has confirmed it has sold its Long Products division to Greybull Capital.
The business employs more than 4 thousand people in the UK, including around 225 staff at an engineering workshop in Workington, and another 28 in Shap.
Questions have been raised about the future of the Tata Steel factory in Workington, after the company agreed to sell it to the Klesch Group.
But the plant's prospective new owner insists they want to build on the expertise already there, rather than cutting back.
The future of the 250 workers in Workington is under threat after Tata Steel agreed to sell it's Long Products Business.
Indian-based Tata said it had signed an agreement with the Swiss company Klesch Group. The sale, if it goes ahead, will reduce the number of Tata Steel's UK employees from 17,500 to 11,500. Tata's site in Shapfell, near Penrith, which employs 26 people, will be unaffected.
Workers at Tata Steel in Workington are waiting to hear more about the consultation process for employees affected by job cuts.
The firm has announced that 90 posts are under threat at the West Cumbrian plant. It hopes they will be voluntary redundancies.
The organisation, Britain's Energy Coast, which was set up to create jobs prospects in the area, is among the groups trying to help reduce the impact of the redundancies.
There is disappointment in Workington with the announcement that 90 jobs are at risk as Tata Steel announces plans to slash its workforce in the town by a third.
Management say a shrinking order book has forced them to look at cuts.
500 jobs are at risk at three sites, including Workington.
A consultation process will begin shortly and the company says support will be offered to staff.
Katie Hunter reports.
Workers at Tata Steel in Workington are waiting to hear more about the consultation process for employees that will be affected by job cuts.
The firm announced yesterday that 90 posts will go at the West Cumbrian plant.
The company have said they hope to achieve the losses through voluntary redundancy.
Local MP Sir Tony Cunningham has been speaking to ITV Border about his reaction to the new that 90 jobs are to be lost at the Tata Steel plant in his home town of Workington.
We put some of Tony's comments to Tata Steel who say they are meeting to discuss the proposed job losses.
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Tata Steel has announced 90 workers at the factory in Workington could lose their jobs as part of a company restructure.
Bosses say demand for European steel has fallen sharply since the recession. Across the country, 500 jobs could go.
Katie Oakes reports.
Tata Steel has announced that proposed cuts will affect mainly management and administrative roles at sites in Scunthorpe, Teesside and Workington.
David Hulse, national officer of the GMB union, said the news had been a surprise.
Tata Steel is proposing to make job cuts at their factory in Workington due to a "shortfall in external projects."
The company had previously announced that steel production was down by 25 percent in the past five years.