AMSA initiates retrenchment talks as it pushes ahead with restructuring plan

Steel producer ArcelorMittal South Africa (AMSA) announced on Tuesday that it had initiated consultations with employees regarding its proposed business-restructuring programme, which could result in job losses. CEO Wim de Klerk said in a statement that it was premature to provide an estimate as to the number of employees who could be retrenched. However, it was possible that more than 50 employees could lose their jobs, which “means that this will fall within the ambit of a large-scale retrenchment”. The JSE-listed company currently employs over 8 600 people directly and more than 3 200 contractors.