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ArcelorMittal SA plans job cuts

Following pandemic hit.
Image: Vladimir Weiss, Bloomberg

Steel producer ArcelorMittal South Africa said on Thursday it plans to cut an unspecified number of jobs as part of a restructuring to cut costs and deal with excess capacity due to the coronavirus pandemic.

The company, which is Africa‘s biggest steel producer and majority-owned by ArcelorMittal SA, said it expects crude steel production to take some time to return to historical or planned levels for 2020.

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What about directors cuts who are the biggest cost factor and are definitely not up to standard?

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