ArcelorMittal could cut 10,000 jobs

ArcelorMittal, the world's biggest steelmaker, could cut 10,000 jobs world-wide next year to boost productivity and reduce general expenses by around $500 million, French newspaper Les Echos said on Monday. The company, which currently employs 285,300 people, wants to regain lost market share and has a goal for general expenses to account for less than 3.5 percent of revenue, the paper said.
Citing trade union representatives who attended a European workers committee meeting on December 9 to 10. ArcelorMittal said in an e-mailed statement it did not want to comment on the figures mentioned in the report as they were not final.