Employees affected by this decision will be paid 75% of their base salaries during this period, the company also said.
The company took similar measures in 2022, also due to a lack of orders.
The steel plant, located in the western city of Hunedoara, employed an average of 584 people in 2023, according to data from the finance ministry.
ArcelorMittal Hunedoara ended the first nine months of 2023 with a net loss of RON38.2 million, lower than RON87.9 million reported in the same period of 2022. Its turnover stood at RON547.35 million in Jan-Sept 2023, lower by 1% than in the same period of 2022, and its debts reached RON487 million in the mentioned period, up 36% on the year.
ArcelorMittal Hunedoara has a market capitalization of RON47.7 million and is 96.5%-owned by ArcelorMittal Holdings. SIDG shares have traded down 14% so far in 2024, amid deals worth just RON7,800, in line with stock market data.