Steel Mills
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/b8d00dd0ef3e67b4460cca2133c760d6.jpg)
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
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/SMU_LM_headshot.png.jpg-150x150.png)
Laura Miller
Read more from Laura MillerLatest in Steel Mills
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor lowers 2024 output estimate for Brandenburg plate mill
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/SSAB.png)
SSAB adjusts output in weak Q3, readies for Q4 rebound
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Topalian puts focus on “unfair” trade, eyes USMCA partners
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Cliffs_logo2.2.png)
Cliffs sees close of Stelco buy, bottom to steel tags, and Mexico out of USMCA
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor posts lower Q2 earnings, predicts tough Q3 too
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.