Friday, December 19, 2008

Metals - Brazil - Union: CSN lays off 400, expects another 3,000 to be dismissed in 2009

Brazilian steelmaker CSN (NYSE: SID) has let go some 400 workers at the company's headquarters in Rio de Janeiro's Volta Redonda and will likely lay off another 3,000 in early 2009, according to union spokesperson Thais Soares.


"I believe CSN is taking advantage of the global crisis to get rid of employees," Soares told BNamericas. "The decision is premature, there is no need to do this now."

According to Soares, the steelmaker has laid off workers about to retire. "For those employees who were about to retire we even proposed to CSN a voluntary dismissal program," he said.

A company representative was not available to confirm the information when contacted by BNamericas.



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