ArcelorMittal rolls out pre-retirement program at Galati plant in Romania

The steel producer ArcelorMittal Galati started a pre-retirement program for those who can qualify for retirement by the end of 2015, blaming the current economic context, which is difficult and volatile. ArcelorMittal Galati’s general manager Bruno Ribo says the company needs to improve labor productivity, by increasing production, and by rolling out the pre-retirement program. The company had 7,100 employees end – 2013, compared to 27,000 in 2011, before the plant’s privatization. Employees who are eligible will get RON 22,000 net (some EUR 5,000) and the difference in salaries between the time of leave and the time when the employee would have retired, but no more than 12 salaries. After 2012 loss, Indian billionaire Mittal asks for Romania’s support in reducing energy costs at Galati plant ArcelorMittal starts new voluntary redundancy scheme at Galati plant in Romania editor@romania-insider.com