BRUSSELS (AP) - The European Union’s executive arm says the boss of steel
maker ArcelorMittal has promised to suspend planned job cuts and plant
closures in Europe through June.
The EU Commission said Wednesday that CEO Lakshmi Mittal agreed after talks
with Industrial Commissioner Antonio Tajani late Tuesday to suspend all
restructuring programs until the body publishes its plan to help Europe’s
steel industry this summer.
SA, the world’s largest steel company, is blaming a slump in demand and
structural overcapacity in Europe for its recent decisions to cut jobs and
close blast furnaces across the 27-nation bloc. Plans to shrink or cease
operating its plants in the northern French town of Florange and Belgium’s
Liege were met with protests and harsh rebukes from the country’s leaders.