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ArcelorMittal South Africa Plans To Reduce More Than 2,000 Positions

ArcelorMittal South Africa Limited said the company is planning a large-scale restructuring which could affect more than full time 2,000 positions. The company believes these actions, together with other interventions have become necessary to overcome the significant challenges in the South African steel industry.

Also, as part of JSE Listings Requirements, ArcelorMittal South Africa stated that the company's headline results per share for the six month period ended 30 June 2019 will decline by at least 59 cents from prior year.

ArcelorMittal South Africa's interim results will be released on 1 August 2019.

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