The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.52 - Casting of steel
26,000 jobs Number of planned job losses
Announcement Date
15 June 2006
Employment effect (start)
Foreseen end date
31 December 2008
Description
Mittal Steel, the world´s largest and most global steel company with 224,000 workers in 16 coutries, has announced the workforce reduction of around 26,000 employees through 2008. The announcement about job cuts aimed to diminish the resistance of Arcelor to be purchased by Mittal Steel.
On 26 June 2006 the merger between Mittal Steel and Arcelor was announced. The company Arcelor Mittal with 350,000 employees becomes the clear world leader in the steel industry.
Sources
15 June 2006: Hospodárske noviny
26 June 2006: Hospodárske noviny
Citation
Eurofound (2006), Mittal Steel, Merger/Acquisition in World, factsheet number 63630, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63630.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
