ArcelorMittal (MT) To Cut Up To 9,000 Jobs
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ArcelorMittal (NYSE: MT) announced a voluntary employee separation plan aimed at reducing costs by $1 billion.
Arcelor Mittal said the focus of the program with primarily involve non-production employees and may involve up to 9,000 employees, or approximately 3% of the total global work force.
The company commented, "This has been a very difficult decision for the company to take as all of our employees are extremely important to us. Sadly however the global economic reality means that it is only sensible to adopt such measures."
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