Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Mittal Steel, the world´s largest and most global steel company with 224,000 workers in 16 coutries, has announced the workforce reduction of around 26,000 employees through 2008. The announcement about job cuts aimed to diminish the resistance of Arcelor to be purchased by Mittal Steel.
On 26 June 2006 the merger between Mittal Steel and Arcelor was announced. The company Arcelor Mittal with 350,000 employees becomes the clear world leader in the steel industry.
Eurofound (2006), Mittal Steel, Merger/Acquisition in World, factsheet number 63630, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63630.