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BusinessLive reports that ArcelorMittal SA (Amsa) said on Thursday that jobs at the steelmaker were on the line due to the effects of Covid-19 on the economy.
“A large-scale restructuring is contemplated, and the number of jobs impacted will depend on the alternatives identified and agreed to mitigate the impact. The final outcome and number of positions affected is subject to a formal consultation process,” the company indicated. Amsa pointed out that the cost-saving measures it had initially put in place would not be enough due to the unprecedented effect of both the virus and the associated national lockdown. “Further, the company anticipates that it will take some time for crude steel production levels to return to historical levels or planned levels of 2020. Therefore, a significant part of the company’s available production capacity may remain unutilised for an extended period,” Amsa noted in a statement.
- Read the original of a short report in the above regard by Odwa Mjo at BusinessLive
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