United States Steel Corp will temporarily lay off hundreds of workers at its Gre...
CHICAGO - United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with the State of Michigan.
In a Worker Adjustment and Retraining Notification filed on Aug. 5, the Pittsburgh-based company said it expects to let go fewer than 200 workers following its decision to halt production at the Michigan facility. U.S. Steel said the lay-offs at the Michigan plant could last beyond six months. They will impact nearly every area of the facility, from blast furnace to finishing operations, a company spokeswoman told Reuters.
Domestic steel prices did rise in the immediate aftermath of Trump’s tariffs. But they have fallen dramatically amid improved supplies and weakening demand from the auto and farm machinery sectors.U.S. Steel’s stock price has plunged 73% since March 1, 2018, when Trump announced his decision to crack down on foreign imports.
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