ArcelorMittal Cutting 9,000 Jobs Worldwide

World’s largest steelmaker will eliminate 6,000 workers in Europe, but it's unclear where the company will cut the remaining 3,000.

BRUSSELS (AP) -- ArcelorMittal will eliminate 9,000 of its 320,000 workers worldwide, two-thirds of them in Europe.

It's unclear where the world's largest steelmaker will cut the other 3,000.

The company, which owns a West Virginia plant, said Wednesday the buyouts for white-collar staff will now be extended to some production staff.

ArcelorMittal reported its first-ever quarterly loss -- $2.6 billion -- for the fourth quarter of 2008. The company says it wrote down the value of assets amid collapsing demand for steel.

The loss compares with a $2.4 billion profit a year earlier.

The company also says it has shuttered plants and laid off temporary staff.

Chief executive Lakshmi Mittal says the market could take at least two years to get back to normal.

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