Why Japan steel industry faces massive job losses, job cuts

By Richard Kornblum, Bloomberg Businessweek Managing EditorJAPAN SHAPING JAPAN’S STOCK MARKET HAS LOST $1.1 TRILLION ($2.5 TRILLIONS) IN 2017, TO AN EMERGENCY LEVEL OF OVER $6 TRILLIOLLION.

The company is now down more than 50% in market capitalization from its highs, according to research firm IBISWorld.

That’s an incredible feat given the company’s high valuation.

The stock is trading at about $1,400 a share.

Its downfall began with an announcement that the steelmaker would be restructuring its operations in Japan.

The announcement caused a global sell-off, as investors and analysts rushed to snap up the stock as an opportunity to cash in.

The market’s reaction was swift.

The price of the stock has declined by more than 60% since that announcement.

But that’s not the worst of it.

The Japanese government is considering making steel a primary export to the United States, according the Wall Street Journal.

That would require an overhaul of the steel industry in Japan, which imports nearly half of its steel.

Japan has a heavy dependence on steelmaking.

It imports more than half its steel from the United Kingdom, the world’s second-largest exporter, and the United Arab Emirates.

The country also uses more steel than any other country.

The collapse of the Japan Steel Industry was so severe, the company has begun to slash production of steel products, including products for aircraft and ships, as it tries to meet rising production and demand for parts, according a statement from the Japan Industrial and Commercial Bank (JICAB) said.

The steelmaker plans to cut about 3,000 jobs, or about a third of its current workforce, as part of the restructuring plan.

The move would leave about 1,000 employees in Japan as part the restructure.

Some analysts think the restructuring is the first step in a wider effort to shed its steelmaking businesses.

The steelmaker has already laid off about a quarter of its staff, according an industry source.

At the same time, Japanese regulators are considering a proposal to restructure its financial services business, which involves making the sale of certain securities and the transfer of certain financial assets, according Bloomberg.

Japan is a big exporter of steel, but the country has been struggling to keep up with global demand for its products.

That is a challenge the country is taking on head on, according China-based financial services company BNP Paribas.

It is already seeing signs of slowing demand.

Demand in Japan declined by about a fifth in the first quarter of the year compared with the same period last year, according BNP, which tracks the market.

More from Bloomberg: Japan Steel: The Next Generation of SteelThe world’s largest producer of steel has announced a massive restructuring plan to cut jobs and shed more than 1,300 jobs.

The plan, which will be completed in two years, aims to eliminate 1,700 jobs by 2023.

The company said in its latest financial report that it plans to make a restructuring of its entire business, including all business areas and operations, and is evaluating various options.

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