ArcelorMittal South Africa may cut more than 2,000 jobs

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.