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Bonds News

ArcelorMittal plans 'mass layoff' at Indiana mill

NEW YORK, May 13 (Reuters) - Steelmaker ArcelorMittal ISPA.ASMT.N plans a "mass layoff" at its Indiana Harbor mill in July, according to a company letter made public by the United Steelworkers union on Wednesday.

In the letter, posted on USW Local 1011’s website, ArcelorMittal said it “has determined that it must substantially reduce the workforce at its Indiana Harbor flat carbon facility.”

The company said the purpose of the letter, dated May 12, was to advise the union of “a pending ‘mass layoff’” at the plant in East Chicago, Indiana.

It did not specify how many workers would be affected but said the layoffs would be for an indefinite period after July 12.

There was no immediate comment from ArcelorMittal, which like other steelmakers has recently cut production and idled plants because of the economic downturn. (Reporting by Steve James; editing by John Wallace)

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