Ukraine’s ArcelorMittal Kryvyi Rih has decided to suspend the operations of its mining complex starting from August this year for three months. However, the company intends to keep its labour force without laying people off.
According to the official statement, the decision was taken by AMKR in view of some serious economic factors, particularly the decline of economic activity in Europe, decreasing demand for iron ore products, and the significant increase in logistics-related expenses.
AMKR intends to keep on all its workers involved in the mining operations on two thirds of their salaries. «Neither the financial crisis of 2008 nor the Covid-19 pandemic forced ArcelorMittal to cut working hours and salaries. The tough decisions of this year shows that the situation is unprecedented for us all and survival is most important,” said AMKR CEO Mauro Longobardo.