26th November 2008
Friday, July 30th, 2010
Arcelor initiates massive redundancy program
Four steel mills of Arcelor Mittal Poland (AMP) will lay off over 1,000 employees in one of the most far reaching mass redundancy programs in Poland
The firm has already shut down its two large furnaces in Kraków and D±browa Górnicza. "But we do not know whether this will be sufficient. December in general is a poor month so we should expect a further drop in orders," said Gregor Muenstermann, president of AMP.
The management board of AMP hopes that all planned savings will amount
to euro 300 million annually.
Source: Puls Biznesu (M.M.)
From Warsaw Business Journal
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