Nov 26, 2024, 12:00 AM
Nov 26, 2024, 12:00 AM

ArcelorMittal shuts down two plants in France amid economic struggles

Highlights
  • ArcelorMittal plans to shut down its plants in Reims and Denain, affecting 136 employees.
  • The closures are driven by a significant decline in activity, particularly from industrial and automotive sectors.
  • This move reflects broader economic struggles within France and the European steel industry.
Story

France is facing economic difficulties, with several companies announcing job cuts and plant closures. ArcelorMittal, Europe's largest steelmaker, has revealed plans to cease production at its site near Reims and another in Denain, affecting a total of 136 employees. The unions stated that production is scheduled to stop by June, with the initial layoffs expected as early as April. The decision stems from a significant decline in demand from industrial and automotive customers, an issue that has reportedly intensified recently. This closure adds to a trend of downturn in the European auto industry, as evidenced by the recent announcement from French tyre company Michelin to close two of its plants by early 2026, which will impact over 1,250 jobs.

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