(Reuters) - Steel producer ArcelorMittal (NYSE:MT) South Africa Ltd (J:ACLJ) said on Thursday it plans to cut an unspecified number of jobs as part of a restructuring to cut costs and deal with excess capacity due to the coronavirus pandemic.
The company, which is Africa's biggest steel producer and majority-owned by ArcelorMittal SA (AS:MT), said it expects crude steel production to take some time to return to historical or planned levels for 2020.