Thursday, November 27, 2008

ArcelorMittal looks to cut jobs

ArcelorMittal, the world's largest steelmaker, is to offer voluntary redundancy to up to 9,000 employees, around 3% of its total workforce.

The 'voluntary separation programme' is part of the company's aim to cut costs by $1bn (£648m;775bn euros) in response to falling global demand for steel.

The focus will be primarily on sales and administrative employees, rather than factory workers.

Arcelor has already announced output cuts of 30% in the fourth quarter.

Full story at BBC News.


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