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No job losses in French unit: LN Mittal

The billionaire NRI businessman on Wednesday said no employee in France will be rendered unemployed.

world Updated: Jan 23, 2008 22:54 IST

Amid the French government's summoning of ArcelorMittal chief Lakshmi Mittal to seek assurance against job losses due to a proposed shutdown of a plant there, the billionaire NRI businessman on Wednesday said no employee there will be rendered unemployed.

"I am sure that the issue will be settled amicably," Mittal told private TV channel NDTV 24X7 in Davos.

"We are restructuring our business processing in Gondreaux and there are 600 employees who are affected, of which 150 are going to retire and 450 have been offered alternative jobs within 20-30 kms of the existing site," Mittal told the TV channel.

"There is a consultation going on with the union leadership at Gondreaux and it (the matter) will be concluded very amicably with the union and the government," he said and pointed out that he has been in touch with Sarkozy's office.

"I am going to India as a guest of Sarkozy (as part of the delegation going there with him)."

The French government had summoned the steel magnate to seek assurance against job losses from a proposed shutdown of one of ArcelorMittal's plants in that country.