ArcelorMittal, the world's second-largest steelmaker based in Luxembourg, announced plans to lay off around 600 employees at seven plants in northern France. The affected plants were located in Basse-Indre, Desvres, Dunkirk, Florange, Mardyck, Mouzon, and Montataire.
It was understood that China's low-price strategy for steel had put pressure on the European market, causing local steel mills to face difficulties. ArcelorMittal, which was grappling with a historic steel crisis in Europe, revealed in February that it was considering moving some of its European marketing, sales, and IT operations to India.
In response to this change, the French government said it would work with other European countries to promote protective measures to maintain the stability of the local steel industry.
