ArcelorMittal decides to increase wages of its workers after a one day strike

General Directorate of Arcelor Mittal Annaba (East of Algeria) and its syndicate reached on Sunday an agreement on wages increase, one of the main demands of the company’s workers who launched on Saturday a general strike causing total paralysis of the steel company in Al Hadjar.

 Thus, after one day walkout that ended on Sunday morning, the general directorate agreed to wages increase, spread over time, starting from a 10% increase from June 1^st, 2011 with retroactive effect from January 2011. However, it is clarified that in case of the company’s financial difficulties, these dates will be rescheduled at a more favorable date.

The same agreement reported a further increase of 4% to December 1^st, 2011conditional on reaching a goal of producing liquid steel from May to November fixed at 590.000 tons. The increase will be 3% when production reaches 540.000 tons, 2% if it will reach 480.000 tons and 1% if it will reach 460.000 tons. A third increase of 2% would take place on July 1^st, 2012. It is linked to the objectives to be negotiated in November 2011 during the preparation of the 2012 budget. A final increase is also scheduled for December 1^st, 2012 related to the achievement of other goals.