Steel giant ArcelorMittal wants to cut 5,000 jobs in Italy because of low produc...
) wants to cut 5,000 jobs in Italy because of low production levels at its Taranto plant, Italian Prime Minister Giuseppe Conte said on Wednesday, denouncing the plan as “unacceptable”.
The mooted layoffs at the Ilva steelworks in Taranto came just two days after ArcelorMittal announced that it planned to pull out of a year-old deal to buy the Italian company. Conte met ArcelorMittal managers earlier in the day and said it was clear the legal shield had nothing to do with the threat to quit Italy. The real problem was that the firm had not hit its production targets, he told reporters.
Conte said it had aimed to produce 6 million tonnes of steel a year in Taranto. He added that ArcelorMittal could not turn around one year into its contract and announce that its plan was no longer viable.
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