July 10, 2019 / 8:20 AM / a month ago

ArcelorMittal South Africa may cut more than 2,000 jobs

JOHANNESBURG, July 10 (Reuters) - ArcelorMittal’s South Africa unit said on Wednesday it was considering a large-scale restructuring expected to affect more than 2,000 jobs, after warning its headline earnings for the first half of the year would fall by at least 650 million rand ($45.78 million).

“Certain costs that are not within the company’s control such as high electricity, rail, port, and primary raw material costs have contributed to these challenges,” the division said in a trading statement.

$1 = 14.1997 rand Reporting by Emma Rumney, editing by Louise Heavens

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