ArcelorMittal Galati,
Romania-based subsidiary of the world's largest integrated metals and mining company
ArcelorMittal Steel mill, has initiated a new scheme of voluntary layoffs that will run until midMarch 2011, local Romanian newspaper Financiarul has reported.
Accordingly, workers who voluntarily leave the company will receive sums between ROL 15,000 (about $4,790) and ROL 30,000 (about $9,570), as well as six to 24 salaries in compensation, depending on worked time.
Some 9,300 people are currently working at
ArcelorMittal Galati. The company did not disclose how many jobs it will slash through this scheme, only saying that this measure will be directed towards increasing its competitiveness in the market.
The most recent voluntary layoff scheme at
ArcelorMittal Galati began in December 2008 and ended a year later, in December 2009, during which over 4,500 workers left the company in exchange for compensation payments.