Bloomberg reported that ArcelorMittal’s Argentine unit cut 130 jobs by offering voluntary retirements and ending contracts with outsourced companies as costs increase,

La Nacion, citing company sources it did not identify, reported that Acindar Industria Argentina de Aceros SA cut the jobs at its main plant in the town of Villa Constitution.

It said “Acindar wants to cut the number of outsourced companies it works with from 40 to 10 and to relocate the workers. The 130 workers weren’t members of unions.”

It said “Acindar made the move after being affected by rising salaries and high global steel supplies.”

(Sourced from Bloomberg)