ArcelorMittal to slash workforce

Stung by an “extra-ordinary economic environment”, global steel behemoth ArcelorMittal has decided to indefinitely lay off nearly 1,000 employees at its Indiana Harbour facility.

In a recent communique to the United Steel Workers, an umbrella trade union body in the country, ArcelorMittal said it was “being forced” to lay off 978 employees at the facility after analysing the business situation and the available options there. The L N Mittal-led company said the layoffs were expected to be temporary and the workers might be “brought back to work” as soon as market conditions improved.