Saturday, July 15, 2006

Human Resources: Mittal Steel Ostarva to slash 1,000 jobs in Czech Republic

The Czech Republic's biggest steel producer, Mittal Steel Ostrava, and a subsidiary, plan to shed around 1,000 posts from their combined workforce of 9,280.

An incentives package that encourages workers to quit the parent company and its Vysoke Pece Ostrava subsidiary is part of an ongoing restructuring aimed at increasing productivity at Mittal Steel's Czech operations.

Mittal Steel Ostrava is 70.67 percent owned by Netherlands-based Mittal Steel, the biggest steel producer worldwide, while the remainder is held by the Czech government.