South African Union Warns of Job Cuts’ Impact on Steel And Auto Industries

South African Union Warns of Job Cuts’ Impact on Steel And Auto Industries

South African metalworkers union Numsa says ArcelorMittal South Africa’s planned job cuts in Newcastle, KwaZulu-Natal, and Vereeniging, Gauteng, could devastate the steel and auto industries and harm communities. The company intends to cut 35-percent of its workforce, citing structural challenges in its long steel business. Numsa spokesperson Phakamile Hlubi-Majola vows to fight the retrenchments, urging collaboration to protect manufacturing capacity and prevent economic fallout:

January 7, 2025 11

World

U.S President Biden blocks major steel takeover

Outgoing US President Joseph Biden has officially blocked a Japanese company from buying the United States Steel Corporation, warning that foreign ownership would pose a danger to national security. Nippon Steel, the fourth-largest steelmaker in the world, had bid close to $15 billion to purchase the once-iconic American industrial powerhouse. But that takeover is now on the brink of collapse, as Benji Hyer reports.

January 6, 2025 9

Business / Economics

Trump vows to stop Nippon takeover of U.S. steel

U.S. President-elect Donald Trump says he will block a deal for a Japanese company to acquire U.S. steel. Instead, he insists, his tax and tariff plans will make the U.S. manufacturer strong again by being American-owned. Caroline Malone reports from Washington.

December 4, 2024 17