ArcelorMittal Cuts 3,500 South Africa Jobs as Demand Craters
- The steelmaker employs about 9,300 workers in South Africa
- South African steel consumption declined 20% in seven years
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ArcelorMittal South Africa Ltd. will shut its long steel products business and cut as many as 3,500 jobs, dealing another blow to the continent’s third-biggest economy.
South Africa’s failing power and transport systems as well as a skills deficit are thwarting efforts to revive the economy, with electricity outages and logistical bottlenecks hobbling the country’s industrial base.