Steel Mills
US Steel Lays Off 25% of Salaried Workers
Written by Sandy Williams
April 6, 2016
US Steel will lay off about 25 percent of its salaried workers in its latest cost cutting effort. It is estimated about 750 employees in the 3,000 North American salaried positions will be laid off.
“This is part of the ongoing adjustment to staff levels and operations due to challenging market conditions, including fluctuating oil prices, reduced rig counts, depressed steel prices and unfairly traded imports,” said US Steel spokeswoman Sarah Cassella. “Many factors were carefully considered, including skills, knowledge and technical proficiencies needed to meet business needs.”
US Steel suffered a $1.5 billion loss in 2015 resulting in production cuts and a series of layoffs in Alabama, Texas, Ohio and Illinois. The company’s tubular business was hit particularly hard by low oil prices and reduced drilling resulting in the layoff of 770 workers in Alabama and Texas last month. The blast furnace at Fairfield Works has been idled and plans to build an electric arc furnace at the facility have been postponed.
US Steel is expected to report another loss when it releases its first quarter 2016 earnings report later this month.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Atlas completes Evraz NA deal, renames firm, and hires former USS exec as CEO
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.
ArcelorMittal: As tariffs slow global growth, Calvert could be a bright spot
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.
Ternium posts solid Q2, expects further shipment growth
Latin American steel producer Ternium delivered a solid performance in the second quarter of 2025. Performance was driven primarily by higher realized steel prices in Mexico, even as shipment volumes declined slightly across its regional portfolio.
Algoma swings to loss on ‘unprecedented disruptions’ and trade barriers
Canada’s Algoma Steel saw a sharp loss in the second quarter amid a continued challenging market environment and “tariff uncertainties.”
Nucor eyes long-term gains amid strong demand and trade enforcement
Resilient demand across its steel product lines, combined with the continued ramp-up of key expansion projects, drove Nucor’s improved financial results and record-setting performance in the second quarter. That’s according to company executives speaking on an earnings conference call on Tuesday.