ArcelorMittal Layoffs Job Cut: fires 1550 employees

The economic situation is worsening in multiple sectors and that includes the big giants equally within each industry sector. We had reported last month about the ArcelorMittal Lay off Job Cut and now the company has decided to add to the list of layoffs - another 1550 employees may be fired in European countries.

How many employees will be fired in the ArcelorMittal Layoffs Job Cut?
Around 1550 employees will be fired in the layoffs.

Which locations will see the ArcelorMittal Layoffs Job Cut
The layoffs will happen in Germany and Belgium.
Around 750 jobs (450 in Bremen and 300 in Eisenhttenstadt) will be cut in Germany. While in Belgium, a voluntary separation programme for 800 employees is planned.

What are the primary reasons for the ArcelorMittal Layoffs Job Cut
Same old story, economic downturn, financial crisis and low demands.

As per the news, The L N Mittal-led company said that the jobs of another 450 employees at its Bremen unit and 300 at the other German plant would be affected temporarily. However, they will not have to leave the company but will have reduced working hours and can apply for part-time work at the units where they are working now, Langner said.

Will there be any ArcelorMittal Layoffs Job Cut in India?
The company did not say anything about the job cuts in India.

Langner said the company is enforcing semi-retirement plans, reduced working hours and part-time work to beat the recessionary trends globally.
The company has cut output by as much as 35%. ArcelorMittal produced about 116 million tonnes and clocked a revenue of USD 105.2 billion last fiscal.

Let's hope that alternative jobs are available to the affected employees of ArcelorMittal Layoffs Job Cut.