June 18, 2020 / 1:58 PM / a month ago

ArcelorMittal South Africa plans job cuts following pandemic hit

(Reuters) - Steel producer ArcelorMittal South Africa Ltd (ACLJ.J) said on Thursday it plans to cut an unspecified number of jobs as part of a restructuring to cut costs and deal with excess capacity due to the coronavirus pandemic.

The company, which is Africa’s biggest steel producer and majority-owned by ArcelorMittal SA (MT.AS), said it expects crude steel production to take some time to return to historical or planned levels for 2020.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta

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