Tata Steel has confirmed it will axe another 1,050 jobs across the UK, including 750 job losses at the UK's biggest steel maker Port Talbot.
Around 100 jobs will also go at its steel mills in Trostre, Corby and Hartlepool, alongside 200 support roles.
It blamed the proposed changes on slumping European steel prices, largely due to a flood of cheap imports, particularly from China. Last year, steel prices plummeted to their lowest level in over a decade.
The company is the middle of a wide-scale reorganisation of its business as the market becomes increasingly challenging. Its pricing woes have been compounded by rising energy costs, as well as the strength of the pound.
This comes on top of the job cuts it announced last year due to low steel prices. Tata said in October that it will cut 900 jobs in Scunthorpe in Northern England, as well as 270 in Scotland.
Karl Koehler, chief executive of Tata Steel, said: "I know this news will be unsettling for all those affected, but these actions are critical in the face of extremely difficult market conditions which are expected to continue for the foreseeable future."
"We need the European Commission to accelerate its response to unfairly traded imports and increase the robustness of its actions."
"And while we welcome progress on UK energy costs, the government must take urgent action to increase the competitiveness of the UK for its vital steel sector."
Stuart Wilkie, director of Tata's Port Talbot-based Strip Products UK business, added: "We have to accelerate the changes we announced last August, by lowering our costs at the same time as focusing on manufacturing higher-value products. These are urgent steps needed to give this business a chance of survival."
"We will work closely with affected employees and their trade union representatives. Retaining the right skills for the future will be critical, but we will look to minimise employee hardship and redeploy employees where possible."
Emma Watkins, CBI Wales director, said: "These job losses are a real setback to the Welsh economy and it’s clear that firms in our steel industry face major global challenges to stay competitive."
"The Welsh and UK governments must work together, and alongside business, for Wales to thrive by developing new and compelling offers for inward investment and export support."