ArcelorMittal to cut 1,500 jobs as situation worsens

ArcelorMittal, the worlds largest steelmaker, will cut the equivalent of as many as 1,500 full-time jobs at its Bremen and Eisenhuettenstadt plants in Germany.

ArcelorMittal, the worlds largest steelmaker, will cut the equivalent of as many as 1,500 full-time jobs at its Bremen and Eisenhuettenstadt plants in Germany.

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ArcelorMittal is working with unions to reduce the workforce at the flat carbon production sites by cutting hours and using early retirement and voluntary resettlement programs, Luxembourg- based spokesman Arne Langner said.

The equivalent of as many as 900 jobs will go at Bremen and up to 600 at Eisenhuettenstadt.

The company said it may cut as many as 9,000 jobs from its global workforce. While some of the German cuts are in that number, there are additional reductions because of the "worsening situation," Langner said.