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ArcelorMittal vows no more job cuts till June: 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 struggling steel industry, the European Commission said Tuesday. EU Industry Commissioner Antonio Tajani quoted a letter from the global steel giant as saying "there will be no more cuts" at its plants in Europe that employ 98,000 people until the launch of the plan. In its own statement, ArcelorMittal confirmed "that no new restructuring plan is envisaged other than what is already announced and being implemented."

ArcelorMIttal vows no more job cuts till June: 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 struggling steel industry, the European Commission said Tuesday. EU Industry Commissioner Antonio Tajani quoted a letter from the global steel giant as saying "there will be no more cuts" at its plants in Europe that employ 98,000 people until the launch of the plan. The EU executive last week asked ArcelorMittal to suspend the closure of several sites pending the plan but the company had initially declined.

EU urges ArcelorMittal to suspend closures

The EU executive on Tuesday said it had asked ArcelorMittal to suspend the closure of sites in Europe pending the launch of a pan-Europe plan to save the industry -- but the global steel giant declined. Speaking at a European Union roundtable on steel, the EU's industry commissioner Antonio Tajani said: "We want ArcelorMittal to postpone its decision to close sites at least until the EU releases its action plan."

EU urges ArcelorMittal to suspend closures

The EU executive on Tuesday said it had asked ArcelorMittal to suspend the closure of sites in Europe pending the launch of a pan-Europe plan to save the industry -- but the global steel giant declined. Speaking at a European Union roundtable on steel, the EU's industry commissioner Antonio Tajani said: "We want ArcelorMittal to postpone its decision to close sites at least until the EU releases its action plan."
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