The ArcelorMittal-Marcegaglia (Am InvestCo Italy) consortium taking over the troubled Italy-based Ilva steel group intends to maintain almost 10,000 jobs and make around 4,000 workers redundant, according to a letter sent by the consortium to unions on Friday, October 6, ahead of the start of negotiations between unions and the company management at the Italian Ministry of Economic Development, due to begin today, October 9.
Local unions have reacted furiously, saying the conditions to start discussing the plan do not even exist. At the same time, the unions have planned a sit-in at the main plant in Taranto, and other strikes in Genova and Novi Ligure, where other plants of the group are based. The strike will last 24 hours.
Ilva was declared insolvent earlier this year with debts totaling nearly €3 billion. The steel plant was then privatized by the Italian government with a majority of shares purchased by global steel giant ArcelorMittal and Italian steel processor Marcegaglia.
There may be other strikes or actions by the local unions, depending on what will emerge from today's meeting at the Italian Ministry of Economic Development in Rome.