ArcelorMittal is looking to reassign or remove 300 employees from its permanent payroll in Luxembourg as part of the steel giant’s restructuring plans, the economy and labour ministries and the company said in a press release on Friday.
“Given that the workforce in Luxembourg is currently around 300 employees larger than the company’s current and future requirements, measures relating to early retirement and pensions, short-time working, voluntary redundancies, internal transfers and natural wastage will be implemented,” the release said.
ArcelorMittal remains mute on progress of job relocation plans
“As part of the restructuring, a redeployment unit has been set up to support these employees with the various options mentioned above,” the statement added.
Unions said in February that the jobs of 1,150 staff at ArcelorMittal in Luxembourg could be under threat as part of steelmaker’s wider assessment of its support functions across Europe.
The Luxembourg Times did not receive an immediate response from the economy and labour ministries when it asked if 300 was the number of jobs being cut by the company in Luxembourg.
The announcement about the 300 jobs followed a tripartite meeting between ministers, ArcelorMittal management and unions LCGB and OGBL on Friday.
ArcelorMittal will also invest at least €290.5 million in Luxembourg over the next three years, following an agreement signed on Friday by Labour Minister Marc Spautz, Economy Minister Lex Delles, Finance Minister Gilles Roth, ArcelorMittal and the unions.
Under the new agreement the company will invest up to €334.5 million in the Grand Duchy between 2026 and 2029. The money will go into “key projects aimed at developing all of its production sites to ensure the long-term viability of its plants of which €44 million will be dedicated to the maintenance of existing equipment”.
The creation of a cybersecurity centre to support the company’s global operations is also planned, as well as joint studies with academic and research institutions in the field of advanced technologies. These measures aim to support the increased digitalisation of steel production and business processes.
