Engineering News reports that steel producer ArcelorMittal SA (AMSA) announced on Tuesday that it had initiated consultations with employees regarding its proposed business-restructuring programme, which could result in job losses.  

CEO Wim de Klerk said in a statement that it was premature to provide an estimate as to the number of employees who could be retrenched.  However, it was possible that more than 50 employees could lose their jobs.  The JSE-listed company currently employs over 8,600 people directly and more than 3,200 contractors.  The retrenchment talks follow AMSA’s announcement of a R1.6bn headline loss for the six months to 30 June; a performance that was attributed to weak domestic market conditions, particularly in the infrastructure markets, and surging input costs.  However, the talks also come amid a strong increase in protection for primary steel products.

• Read this report in full at Engineering News
• Read too, ArcelorMittal SA to cut staff as steel sector outlook dims, at BusinessLive
• And also, ArcelorMittal SA considers job cuts, restructuring, at Moneyweb

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