Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

France's Plan to Tackle Racism

Read more

THE WORLD THIS WEEK

Marine Le Pen and Thomas Piketty in Time magazine's power list; EU takes on Google; Gunter Grass dies (part 2)

Read more

THE WORLD THIS WEEK

Deadly Crossing: Migrants desperate to reach Europe; Abadi in Washington (part 1)

Read more

EYE ON AFRICA

Xenophobic attacks in South Africa: anti-violence marches and anti immigration protest

Read more

FRANCE IN FOCUS

French PM outlines action plan against racism, anti-Semitism

Read more

REPORTERS

Turkey’s hidden Armenians search for stolen identity

Read more

REVISITED

Families of slain Marikana miners still demanding justice

Read more

#TECH 24

Europe vs. Google: EU accuses search giant of market dominance abuse

Read more

#THE 51%

Women in America: Land of the free, home to the less-paid

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)