South Africas largest steelmaker is preparing to cut thousands of jobs. The crisis at ArcelorMittal exposes the structural weaknesses holding back the countrys industrial base.
A national pillar under pressure
ArcelorMittal South Africa has confirmed plans to retrench over 4,000 workers . For a country already battling unemployment at crisis levels, that number is quite staggering. Steel production sustains construction, mining and manufacturing across the economy. When a producer of this scale falters, the knock-on effects are likely to ripple through supply chains and communities.