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.
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
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)
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