URGENT ¥¥¥ ArcelorMittal vows job cuts freeze until June says EU

ArcelorMittal on Tuesday pledged to suspend closures and job cuts in Europe pending the launch of a pan-Europe plan in June to save the industry, the EU's industry commissioner Antonio Tajani said Tuesday.

Tajani quoted a letter received an hour earlier from the global steel giant as "there will be no more cuts" in its plants in Europe employing 98,000 people until the launch of the plan.