Market Segment
July 6, 2021
Cliffs Bonus a Shot in the Arm for Workers
Written by Michael Cowden
Cleveland-Cliffs has launched a cash-incentive program across all its facilities to encourage employees to get their COVID-19 vaccines.
“The program works per site. The company will pay all vaccinated employees a cash bonus based upon the level of vaccination achieved by that site,” a Cliffs spokeswoman said.
If 85% of workers at a given mine, mill or stamping plant get their shots, each vaccinated employee at that site receives a $3,000 cash bonus.
The cash bonus drops to $1,500 per vaccinated worker if the percentage of those getting their shots is 75-84.9%. And it plunges to a mere $200 if the 75% threshold is not met.
The program, which is voluntary, runs through Aug. 21, 2021, the spokeswoman said.
Cleveland-Cliffs is the largest flat-rolled steelmaker and iron ore pellet producer in North America, according to its website. It also operates R&D centers, several tooling and stamping plants, and two tube mills.
The company has operations in Ontario and in 10 U.S. states: Minnesota, Michigan, Illinois, Indiana, Ohio, Pennsylvania, West Virginia, Kentucky, North Carolina and Alabama. It had 25,000 employees as of December 2020, per a company fact sheet.
By Michael Cowden, Michael@SteelMarketUpdate.com
