ArcelorMittal wants to sack 5,000 employees: Italian PM Giuseppe Conte

The announcement by ArcelorMittal to pull out of deal to buy Ilva has caused shockwaves in Italy where the deal was expcted to safeguard thousands of jobs

Steel giant ArcelorMittal pulled out of an agreement to buy struggling Italian firm Ilva because of production concerns, Italy’s prime minister has said, warning the company wants to cut 5,000 jobs at one of its plants.
 
The world’s biggest steelmaker on Monday retreated from its plan to buy the steel producer, blaming a decision by Rome to not grant it immunity from prosecution over the heavily polluting Taranto plant.
 
The announcement caused shockwaves in Italy where the deal was expcted to safeguard thousands of jobs.
 
But the country’s Prime Minister Giuseppe Conte on Wednesday said the decision