ArcelorMittal South Africa may cut more than 2,000 jobs

10 July 2019 - 11:03 By Reuters
Certain costs that are not within the company's control such as high electricity, rail, port, and primary raw material costs.
Certain costs that are not within the company's control such as high electricity, rail, port, and primary raw material costs.
Image: Getty Images

ArcelorMittal's South Africa unit said on Wednesday it was considering a large-scale restructuring expected to affect more than 2,000 jobs, after warning its headline earnings for the first half of the year would fall by at least R650 million ($45.78 million).

"Certain costs that are not within the company's control such as high electricity, rail, port, and primary raw material costs have contributed to these challenges," the division said in a trading statement. 

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