Macsteel Begins Retrenchment Process Amid Global Steel Market Pressures
MDNNews has learned that Macsteel has begun retrenching portions of its workforce, as the company navigates mounting challenges in the global steel market.
An employee, speaking on condition of anonymity, confirmed that the retrenchment process is already under way internally.
Macsteel had not responded to requests for comment at the time of publication.
The move comes against the backdrop of intensifying global economic pressures, including the United States’ recent decision to double tariffs on steel and aluminium imports from 25% to 50%. Analysts warn that these tariffs are likely to deepen strain on international steel markets, undermining local producers and threatening job security in South Africa’s manufacturing sector.
The impact is not confined to steel alone. The motor industry has also felt the pressure, with Nissan’s Rosslyn plant recently implementing retrenchments affecting a significant number of employees.
Labour analysts caution that such international policy shifts could trigger wider job losses across industries heavily dependent on steel production and supply chains.
MDNNews will continue to track developments in both sectors and report on the evolving impact on workers and the broader economy.