World Largest Steel Company Arcelor Mittal announced to lay off employees
Following the announcement of output reduction in the fourth quarter, the world largest iron and steel companies Arcelor Mittal announced on Nov.27 that the company would cut down at least 9,000 positions to achieve one billion dollars annual savings, while the layoff number is equivalent to 3% of the total number of company employees. In this layoff plan, there are over 6000 employees being laid off in Europe.
Reuters: Foxconn plans to lay off 1500 employees in Hungary
Because of the decline in orders, Taiwan Hungary plans to lay off 1,500 employees, which is over half of the total number of the company. After the layoffs, Foxconn’s employees in Hungary are only about 1150 .
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