Sunday, November 23, 2008

ArcelorMittal warns of 2,444 job cuts

ArcelorMittal, the world's largest steelmaker, has warned that as many as 2,444 employees at a steel plant in northwestern Indiana could be laid off indefinitely in January.

The company announced that it had notified the United Steelworkers labour union and other interested parties about the possibility of an "indefinite layoff" at its Burns Harbor plant in the second half of January. The recent drop-off in global steel production and the company's previously announced plan to reduce production in North American by 40% factored into the decision, the company said.

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