Steel Mills

USW Employees at US Steel Earn Hefty Profit Sharing Bonuses

Written by Laura Miller

August 1, 2022

United Steelworkers-represented workers at US Steel mills will be getting a hefty bonus for the steelmaker’s second quarter performance.

USW employees working for US Steel will receive $30.72 per qualifying hour, which can be upwards of $14,000, for the quarter, according to the company.

“Profit sharing is part of our contract with the USW to reward members for their hard work,” a US Steel spokeswoman told SMU.

The payout is a second quarter record, the spokeswoman said, but she would not provide additional details as to how many quarters USW-represented workers have been paid the profit-sharing bonuses.

In Q2, the Pittsburgh-based steelmaker earned a profit of $978 million—3.4% less than the $1.01 billion earned in the same quarter last year. Sales, meanwhile, were up 25.2% year-on-year to $6.29 billion.

US Steel and the USW are currently in master contract negotiations, with the current labor agreement set to expire on Sept. 1. For a list of US Steel locations covered in the negotiations, click here.

By Laura Miller, Laura@SteelMarketUpdate.com

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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