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The potential loss of 2,000 jobs at ArcelorMittal SA (Amsa) is getting much media attention. That is justifiable. Every job lost has a huge adverse effect on the individual, even more so in the current declining job market.

Amsa, majority owned by the world’s largest steelmaker of the same name, is discussing with unions the slashing more than 2,000 jobs to cope with cheap imports and rising costs. The group employs about 9,000 people...

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