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
9,000 jobs Number of planned job losses
Announcement Date
27 November 2008
Employment effect (start)
Foreseen end date
Description
ArcelorMittal, the world giant in the steel making sector, has announced up to 9,000 job cuts (approximately 3% of the total global workforce) in order to reduce operation costs. Employees in administration will be the most affected by the restructuring. The process will be run in close collaboration with stakeholders and in accordance with the appropriate social considerations of the respective countries involved. ArcelorMittal currently employs over 326,000 people in more than 60 countries.
Sources
27 November 2008: Finanční noviny
Citation
Eurofound (2008), Arcelor Mittal, Internal restructuring in World, factsheet number 67496, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67496.
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