ArcelorMittal Spain Implements Temporary-Layoff Program
October 04 2022 - 11:48AM
Dow Jones News
By Pierre Bertrand
ArcelorMittal said Tuesday that it has implemented a
temporary-layoff program for its workforce in Spain amid lower
plant activity as the steelmaker wrestles with weak demand.
The layoff agreement, which applies to all ArcelorMittal's 8,300
workers in the country, went into effect on Oct. 1 and will last
until Dec. 31, an ArcelorMittal Spain spokesman told Dow Jones
Newswires.
The move comes as the Luxembourg-based steel company has idled
blast furnaces in Spain, Germany and Poland due to the drop in
demand for steel.
The application of the furlough scheme in Spain means that
workers downstream of its idled blast furnace in Asturias, in the
north of the country, will have working hours cut by 25% on
average. The Aviles steel works, hot strip mill and cold rolling
mills will be the most affected, the spokesman said.
Precisely how the temporary-layoff program is applied depends on
market conditions and the needs of each of the company's Spanish
facilities, he said.
The company will monitor whether it will have to extend the
program into 2023, the spokesman added.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
October 04, 2022 11:33 ET (15:33 GMT)
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