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ActionSA and EFF slam ArcelorMittal layoffs, highlight policy and governance failures

The article from MSN discusses the backlash against ArcelorMittal South Africa's decision to lay off 3,500 workers, which has been criticized by both the ActionSA and the Economic Freedom Fighters (EFF). ActionSA's Michael Beaumont highlighted the layoffs as a symptom of broader policy and governance failures in South Africa, particularly pointing to the government's inability to provide reliable electricity, which has severely impacted the steel industry. He criticized the lack of a coherent industrial policy and the government's failure to support key industries like steel, which are crucial for economic growth. Similarly, the EFF condemned the layoffs, describing them as a direct result of the ANC government's mismanagement and lack of vision for industrial development. The EFF also accused ArcelorMittal of prioritizing profit over workers' welfare and called for nationalization of the steel industry to prevent such job losses in the future. Both parties emphasized the need for immediate government intervention to address the crisis in the steel sector and to prevent further economic and social deterioration.

Read the Full MSN Article at:
[ https://www.msn.com/en-za/politics/government/actionsa-and-eff-slam-arcelormittal-layoffs-highlight-policy-and-governance-failures/ar-AA1xafQH ]