Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Fans and players react online to Arsene Wegner's club departure

Read more

THE WORLD THIS WEEK

Syria alleged chemical attack: Gunfire delays deployment of weapons inspectors

Read more

FRANCE IN FOCUS

Cashing in on local French currencies

Read more

YOU ARE HERE

Life on the canals of northern France

Read more

INSIDE THE AMERICAS

What lies ahead for Cuba after the Castros?

Read more

#TECH 24

Discovering and harnessing the power of the sun

Read more

DOWN TO EARTH

Can France bid 'adieu' to popular weedkiller glyphosate?

Read more

#THE 51%

Harmful for your health: When gender bias affects medical diagnosis

Read more

REPORTERS

Africa’s donkeys slaughtered for Chinese ‘miracle elixir’

Read more

Business

ArcelorMittal to cut 2,400 jobs over carmaking crisis

Text by AFP

Latest update : 2008-12-09

The world's biggest steelmaker ArcelorMittal plans to cut 2,400 jobs in the US state of Indiana by mid-January. The factory where the jobs will be slashed produces steel for carmakers and has undergone a drop in orders.

The world's biggest steelmaker ArcelorMittal said on Tuesday it would slash about 2,400 jobs at its factory in the US state of Indiana by mid-January because of a drop in orders.
  
The announcement will be effective by the second-half of January, a company spokesman said, owing to "the current economic climate."
  
"The measures come in the framework of a 40-percent drop in production in North America," or slightly more than the average 35-percent production cut which ArcelorMittal had estimated earlier this month for its factories worldwide.
  
ArcelorMittal doubled its fourth-quarter output cut to 30 percent in early November, reflecting a drop in demand brought on by the global financial crisis. The move sent the price of its shares plunging.
  
The steelmaker employs about 35,500 workers in North America.

Date created : 2008-11-25

COMMENT(S)