Evraz temporarily ceases production of steel
Evraz announced on that it is temporarily ceasing production of steel at its steelworks.
The group, which is in business rescue, said it was experiencing working capital constraints and reduced domestic demand in steel mainly due to a significant increase in Chinese imports.
In terms of section 189 of the Labour Relations Act, a 60-day consultation process with employees was required regarding a possible reduction of approximately 50% in the workforce, Evraz said.
Source: BDpro