Type
Internal restructuring
Country
Czechia
Region
Moravskoslezsko; Moravskoslezsky;
Location of affected unit(s)
Ostrava
Sector
Manufacturing
Manufacture Of Basic Metal And Fabricated Metal Products
Manufacture Of Basic Metals
24.52 - Casting of steel

600 jobs
Number of planned job losses
Job loss
Announcement Date
5 December 2011
Employment effect (start)
5 December 2011
Foreseen end date
31 March 2012

Description

Arcelor Mittal Ostrava, a subsidiary of the world´s largest steel company, has announced 600 job cuts at its Ostrava site by the end of March 2012. The redundancies, which represent one tenth of the staff, is reported to be due to a substantial cut in demand and the decrease in price of steel.

The company is to prepare a financial aid for laid-off workers. Those workers who leave the company on a voluntary basis will be given compensated with a redundancy payment of 11 to 24 average monthly wages.

Arcelor Mittal Ostrava has cut over 1000 jobs since 2009 (see factsheet 14089, 13080, 12364)


Sources

  • 5 December 2011: Lidové Noviny

Citation

Eurofound (2011), Arcelor Mittal Ostrava, Internal restructuring in Czechia, factsheet number 72804, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72804.