ArcelorMittal SA says more than 2,000 jobs may on the line, after the steelmaker slipped to a headline loss in the six months to end-June.
“Due to the difficult domestic economic environment, the SA steel industry continues to face significant challenges,” ArcelorMittal said in a statement on Wednesday. While the company has taken steps to save costs, these alone were not enough. “More significant measures have become necessary, including the review of staffing levels, together with other interventions,” it said.“It is anticipated that in excess of 2,000 positions — full-time equivalents — may be affected. The final outcome and number of positions affected is subject to a formal consultation process.
And the rand’s moderate gains towards the end of the interim period “should have been a positive contributor to financing costs”.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bafana can compete with the elite of AfricaSA goal-scorer Bongani Zungu believes SA have the talent to take on the best on the continent For sure. But can they win? He's talking stori fela they were with the elite of Africa just yesterday, what did they do?
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: eNCA - 🏆 49. / 51 Read more »
Deutsche Bank resize means job losses in SAThe bank is cutting jobs in all its global operations, and its branch in Sandton is going to be downsized
Source: BDliveSA - 🏆 12. / 63 Read more »
Go-slow by workers at SA ports is affecting car exportsPublic enterprises minister Pravin Gordhan said a go-slow by workers at ports was affecting the automotive industry and other commodity exports. It is always about higher salaries and bonuses this time of year Ndithele nqa moto yam engade ifike
Source: TimesLIVE - 🏆 28. / 59 Read more »
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Could voting out 'dangerous' Meryl come back to bite Survivor SA castaways?The 31 year-old Pilates instructor from Irene, Pretoria, says revenge is not on the cards
Source: TimesLIVE - 🏆 28. / 59 Read more »