POST Online Media Lite Edition


ArcelorMittal Italia extends lay off period

Christian Fernsby |
ArcelorMittal Italia has communicated the decision to ask for the extension for 13 weeks of the intervention of the ordinary redundancy fund (Cigo).

Article continues below


This is relating to the steel plant of Taranto, started on July 2, 2019 with an initial maturity date set for September 28 2019.

The extension will start from September 30th and will concern "a maximum number of 1,395 employees".

"This decision has arisen from the persistence of market criticalities and the insufficiency of the demand that led to Cigo's demand, and this despite industrial initiatives and marketing strategies in the field in constant of intervention of the shock absorber and functional to the acquisition of further market shares ". The company also states that "suspension from work will be zero hours".

"The reference market for the production of the Taranto plant has not yet benefited from the desirable effects of the actions put in place by the European Commission in support of continental producers".

What to read next

EC approves Liberty House Group purchase of ArcelorMittal's divestment businesses
ArcelorMittal Italia workers strike on grounds of safety
Argentina's regulator denies telecom Italia's deal to sell Sofora