"As a responsible company we need to adapt to this reality to protect the interests of all our stakeholders, including employees. We have a strong commitment from both the unions and the government to use all social tools available, including the proven tripartite system, to avoid jobs losses and other social impacts from the proposed project."
As per report, ArcelorMittal's decision, which will affect 282 employees at the site, is due to weakness in the construction sector in Western Europe.
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At its sites at Rodange and Schifflange, considered a single operational unit, ArcelorMittal produces long carbon steel products such as reinforcement bars, crane rails and special sections.
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The mill in Rodange will continue to operate on two shifts, the company said.
"This is the beginning of a number of shutdowns across Europe; Europe can simply no longer compete with the cheaper material being produced in other parts of the world, and consumption of standard-grade steel is also falling in Europe," an unnamed source in the British steel trade told Reuters, according to International Business Times.