Bad economic news continues in European industry. In recent hours, the steelmaker ArcelorMittal, which employs 15,000 people in France and whose automotive activity is essential, particularly in the supply of so-called “3rd generation” steel, announced to its unions the “possible shutdown” of two industrial service sites, in Reims, in the Marne department, and in Denain, in the North departmentdue to the “difficult economic context” which affects its industrial and automotive customers.
Two factories threatened
A closure which would result in the loss of around 130 jobs in total, including around a hundred in the Reims factory alone. “On November 19, 2024, the management of the company ArcelorMittal Service Centers brought together the members of its CSE in recent hours in order to inform them of a project to reorganize the company and adapt its production capacities. This project includes the possible shutdown of the ArcelorMittal Service Centers production sites in Reims and Denain.confirmed ArcelorMittal France this Tuesday evening in a press release.
It doesn't smell good
An extremely tense situation, in a particularly difficult context, with vehicle sales in Europe down significantly and where European steel is sold much more expensive than that from China, which is significantly more abundant. An unfavorable environment and situation for the steel manufacturer ArcelorMittal, which admits to being “faced with a sharp drop in activity among its industrial and automotive customers which has accelerated in recent months”. And if nothing is yet completely decided since “Negotiations with trade union organizations will take place on social measures in order to limit the impact on employment”that doesn't bode well.
