New Delhi/Paris: Steel giant ArcelorMittal on Monday said there is a possibility of workforce reduction in its worldwide operations next year mainly on account of "natural attrition and production optimisation".
The company had discussed the same with labour body
European Works Council last week.
"During ArcelorMittal`s plenary meeting with its European
Works Council last week, company representatives discussed the
possibility that the business could expect some global
workforce reductions next year due mainly to natural attrition
and optimization of production," the company said in response
to an emailed query from Luxembourg.
However, the company did not give a figure to the jobs
which could possibly be cut.
"We do not wish to comment on any figures discussed since
they are not final," ArcelorMittal said.
But, a media report said that the company may cut 10,000
jobs globally next year.
Attributing to trade union representatives who attended a
European workers committee meeting last week, French daily Les
Echos said, despite the rise in steel production globally, the
steel giant was preparing to cut back its workforce.
The company, which currently employs 2,85,300 people.
ArcelorMittal wants to regain its lost market share
in Europe for which it plans to reduce overhead costs by about
USD 500 million, the report added.