Dofasco cuts wages up to 10% - Designed to save 250 jobs

ArcelorMittal Dofasco is cutting the wages of its 5,000 Hamilton workers in a bid to avoid layoffs.

The steelmaker announced this morning that pay will be cut 5-10 per cent across the board. The  operation will also be shut down for a week as the economic downturn saps the demand for steel.

The steelmaker said the six-month wage cut will begin shortly and will be re-assessed at the end of that period.

“Market conditions have not improved,” said company spokesman Larry Meyer. “The GM shutdown for nine weeks  (in the United States) certainly impacts us.