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Embattled POSCO tightening belt

2016-02-02 15:24:18| Steel - Topix.net

The nation's largest steelmaker POSCO is tightening its belt in a desperate effort to restore profitability across its affiliates amid a supply glut and faltering global demand for steel. In an annual executive reshuffle on Monday, the group said it had cut the number of executives by a whopping 30 percent to 259, compared to 359 last year.

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