eleconomico.es reported that ArcelorMittal extended the ERE until June 30th 2012 with the same economic and social conditions of the previous ERE affecting employees of the 17 factories in Spanish territory.

As per report “At the meeting of the Negotiating Committee held on Monday to consider extending the ERE 2012, it was noted bad forecasts and uncertainties that existed in October when ERE renegotiated rates for the last quarter of 2011 have not changed. It was finally agreed to another extension.”

ArcelorMittal agreed with its employees in 2009 the implementation of a flexible ERE, which has been renewed every six months, and the bad times that can cripple a facility or line of work in each unit of the group.

Using this system, the multinational has closed the last two months of the year the Compact Steelmaking Bizkaia, Sestao, which employs 400 workers, and since October the factory Madrid Villaverde, with 300 employees.

The decision is forced by the sharp decline experienced by the demand for steel since last summer, which persists in the end of this year and for which no recovery in sight, at least in the short term.

(Sourced from eleconomico.es)