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Hit by COVID-19, ArcelorMittal resorting to cost-reduction measures to protect p

city New Delhi India covid-19 2020 pandemic
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NEW DELHI : Hit hard by the COVID-19 pandemic, global steel giant ArcelorMittal is focussing on cost-reduction initiatives to protect profitability in view of an uncertainty around pace of recovery.The world's largest steelmaker had logged a net loss of USD 559 million for the second quarter ended June 2020 and termed it as the most difficult period in its history."The company continues to focus on cost reduction initiatives to protect profitability as it navigates the evolving demand backdrop.

Moving forward, as economic activity recovers the company will respond by increasing production, leading to the return of some fixed cost," the company said in its latest report.The easing of lockdown measures has seen activity levels improving,.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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