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Arcelormittal South Africa Ltd (ACLJ.J)

ACLJ.J on Johannesburg Stock Exchange

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Wed, Jul 10 2019

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ArcelorMittal South Africa to cut more than 2,000 jobs, shares drop

JOHANNESBURG The South African arm of steelmaker ArcelorMittal expects to plunge to a first-half loss and cut more than 2,000 jobs as it struggles with cheap imports, rising costs and a flagging local economy, it warned on Wednesday.

ArcelorMittal South Africa to cut more than 2,000 jobs, shares drop

JOHANNESBURG The South African arm of steelmaker ArcelorMittal expects to plunge to a first-half loss and cut more than 2,000 jobs as it struggles with cheap imports, rising costs and a flagging local economy, it warned on Wednesday.

ArcelorMittal South Africa may cut more than 2,000 jobs

JOHANNESBURG, July 10 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).

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