Rinat Starkov is chief executive officer at ArcelorMittal in Kriviy Rih. The Luxembourg-based steel giant bought an existing mill in 2005 for $4.8 billion, the largest foreign investment in Ukraine to date.
When they took over the plant it employed 55,000 people. That is now down to 37,000 employees, with further heavy job losses on the way.
Despite the cuts in the workforce, social welfare for employees is high on the company's agenda. That makes some in ArcelorMittal worry about maintaining their competitive edge against steel producers elsewhere in the world.