Tripartite meeting on savings project, December 15

Press release

Luxembourg, 15 December 2020 - The management of ArcelorMittal Luxembourg, employee representatives and government representatives today reached an agreement in principle on the investment and savings project announced by the Group last September.

This agreement in principle sets the framework for the final Tripartite agreement that could be signed next January for the Luxembourg steel industry, applicable to both the production and administrative sites of ArcelorMittal in Luxembourg.

The parties have agreed on the outlines of the investment plan totalling a minimum of 165 million euros proposed by the Management of ArcelorMittal to ensure the competitiveness of the industrial facilities at Belval, Differdange, Rodange and Bissen, and on the organisation of the Support functions.

The accompanying measures that will be implemented to mitigate as much as possible the social impact of this savings project are now also known. In particular, pre-retirement adjustment for employees born on or before 31 December 1964 and a reclassification unit will be proposed.

This agreement in principle is an important step in the process of discussions initiated since September, and illustrates the parties’ willigness to set a constructive social dialogue in line with the Luxembourg social model to which ArcelorMittal is committed.