ArcelorMittal could cut 10 000 jobs worldwide in 2010 to boost productivity and reduce general expenses by around $500M, French newspaper Les Echos reported.

The company, which currently employs 285 300 people, wants to regain lost market share. It has a goal for general expenses to account for less than 3.5% of revenue, the paper said, citing trade union representatives who attended a European workers committee meeting.

ArcelorMittal said in an e-mailed statement it did not want to comment on the figures mentioned in the report as they were not final.

“During ArcelorMittal’s plenary meeting with its European Works Council last week, company representatives discussed the possibility that the business could expect some global workforce reductions next year due mainly to natural attrition and optimisation of production,” the statement said.