Type
Internal restructuring
Country
Luxembourg
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Basic Metal And Fabricated Metal Products
Manufacture Of Basic Metals
24.52 - Casting of steel

400 jobs
Number of planned job losses
Job loss
Announcement Date
29 November 2008
Employment effect (start)
Foreseen end date

Description

ArcelorMittal, the world giant in the steel making sector, has announced up to 400 job cuts in Luxembourg in order to reduce operation costs. Jobs in administration-related functions will be the most affected by the restructuring. Cost-reduction measures implemented by cutting jobs (through voluntary measures) are regarded as unnecessary since the production has been already reduced by about 20-25%.

There will be no immediate dismissals, but affected employees are entitled to an early pension, severance pay, part-time or unpaid leaves.


Sources

  • 29 November 2008: La Voix du Luxembourg

Citation

Eurofound (2008), ArcelorMittal, Internal restructuring in Luxembourg, factsheet number 67601, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67601.