Arcelormittal, the second largest steel manufacturer in the world, announced on Wednesday that it is planning to cancel approximately 600 jobs in France. It is a reaction to the crisis in the European steel sector. TASR informs about this on the basis of AFP report.
Loss of jobs will touch seven sites in northern France where The steel giant employs approximately 7100 people.
Boss Arcelormittal for France Bruno Ribo said that The “difficult decision” is the result of a crisis that has affected the European steel industry. He stated that two -thirds of the cuts would take place in production and the rest in support functions. So far, however, it is too early to say whether or not it will be forced departures, he added.
European metal industry has been struggling with worldwide overproduction for years And today, it is also under the pressure of new duties of 25 % on imports to the US.
Already in February, Arcelormittal announced plans to move some support functions from Europe to India and suspended his investments in decarbonation throughout Europe. It is waiting for specific measures of the European Commission after the presentation of its plans for the steel industry.
Last month, the Commission announced further funding to support the decarbonisation of steel production and market protection measures. However, so far she has postponed the introduction of retaliatory measures for US duties on steel as Trump’s administration indicated that it was open to an interview.
