UNDICTATED: Why steelmaker AMSA forced into 35% downsizing. Hint: Eskom, Transnet. скачать в хорошем качестве

UNDICTATED: Why steelmaker AMSA forced into 35% downsizing. Hint: Eskom, Transnet.

This week’s shock announcement that South Africa’s dominant but loss-making steelmaker Arcelor Mittal is cutting its 10,000 workforce by 35%, is a case of gradually….then suddenly. For the past five years, this one-time major exporter has been pleading for sanity from Pretoria. With ever-growing problems at Eskom and an imploding Transnet, AMSA is now being forced to close the gigantic long steel plant at its Newcastle Works, which will lead to laying off over 2,000 of the 3 500 affected group-wide. It is a massive blow for the KZN town where AMSA is easily the biggest private sector employer. In this episode of UNDICTATED, BizNews’s Newcastle-grown editor Alec Hogg gets the what’s, why’s and how’s from AMSA chief executive Kobus Verster. Video production by Patrick Kidd Your early morning brew of the BizNews Insider keeps you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here - https://bit.ly/3lfVRYP. --- Timestamps 00:00 - Introductions 02:02 - Kobus Verster on the recent announcement by Arcelor Mittal 03:29 - On the scale of the retrenchment 04:05 - On the relative importance of long steel production 06:35 - AMSA's competition 07:54 - On making the business sustainable 09:10 - What will be left after long steel products are removed 10:27 - What will happen to the Newcastle plant 11:42 - How many employees will still have jobs 13:08 - On running a business with level 6 load-shedding 16:58 - On the future of the business 19:34 - How the business can save on electricity 20:51 - Concludes Join this channel to get access to perks:    / @biznewstv