World metallurgical giants reduce steel production and massively lay off people

Over past two years, salaries in industry have grown by more than third.  Today, average salary is about $700.
12:28, 22 November 2019

112 Agency

 Metallurgical giants of the world significantly reduce production and massively lay off employees due to a sharp drop in demand for metallurgical products.

Head of the Federation of metallurgists of Ukraine Sergiy Belenky stated this on the 24 channels.

“If you look at the world map of mining and metallurgical industry producers, Arcelor Mittal, for example, closes its enterprises in the South African Republic and dismisses about two thousand people. US US Still also reduces 1800 people. Thyssen Krup, the largest German concern, 6 thousand people have been dismissed since January 1. British Still, which is on the verge of bankruptcy, is threatened with 25 thousand people being dismissed. The situation in Ukraine can also be called critical. But, as far as I know, the management of all companies is trying to avoid crisis, "- Belenky said.

Related: Russia’s ‘coal weapon’: Hampering Kazakhstani exports to Ukraine

 Over the past two years, salaries in the industry have grown by more than a third.  Today, the average salary is about 19 thousand hryvnias.  There are probably no such indicators in any industry.  This allowed to slow down the pace of labor migration very much, to raise the standard of living.

 Despite the difficult situation on world markets, he called on government officials not to increase tax pressure on enterprises in the industry so as not to stop production and curtail all programs to modernize enterprises.

As we reported, because of the current decrease in the use of steel, which is observed all over the world, Ukraine's steel melting rate fell by 10 percent over the last two months.


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