Public Company
ArcelorMittal may slash 10,000 jobs in 2010: report
The world"s largest steel maker ArcelorMittal may cut 10,000 jobs globally next year and plans to reduce costs in order to regain its lost market share particularly in Europe, a media report says. - Rising Chinese steel capacity a worry for other nations - No profit from excess carbon credits: ArcelorMittal - ArcelorMittal to gain Rs 7,000 crore from EU carbon credits - L N Mittal to gain 1 bn pound on carbon credits - Lloyds Banking Group to cut nearly 400 more jobs - ArcelorMittal now eyes Chhattisgarh Attributing to trade union representatives who attended a European workers committee meeting last week, French daily Les Echos said, despite the rise in steel production globally, the steel giant was preparing to cut back its workforce. The company, which currently employs 2,85,300 people, is planning to eliminate around 10,000 jobs next year across the world, the report stated. ArcelorMittal also wants to regain its lost market share in Europe for which it plans to reduce overhead costs by about $500 million. The company has already moved to slash thousands of jobs earlier this year, amid the steel space suffering the impact of the global economic downturn. The French daily further added that during the meeting with European representatives of the staff, the possibility of declining enrollment was mentioned and linked to natural attrition and optimising production.Team cooking commented:
ArcelorMittal may slash 10,000 jobs in the year 2010. It was a bleak news for many people
05.12.2011
ecommerce website singapore commented:
As the economic market are in the crunch situation the arcelor king is facing too much loss, so his decision to cut down the job is totally understandable.The expenses are going high but the revenue is less.
30.12.2011