ArcelorMittal could cut 10,000 jobs

ArcelorMittal, the world's biggest steelmaker, could cut 10,000 jobs worldwide next year to boost productivity and reduce general expenses by around $500 million, French newspaper Les Echos said on Monday.                                           

The company, which currently employs 285,300 people, wants to regain lost market share and has a goal for general expenses to account for less than 3.5% of revenue, the paper said, citing trade union representatives who attended a European workers committee meeting on December 9-10.