150 Set To Be Unemployed As U.S. Steel Set To Idle The Indiana Plant
Last week, the U.S. Steel said that by mid–November it will idle an Indian based plant as part of the till mill operations which it has been consolidating in the United States. This move is likely to affect the life of close to 150 employees because they are expected to be laid off consequently.
The news has come just a few days after U.S. Steel which is a company based out of Pittsburgh had revealed that it will be letting go-off up to 200 workers the Great Lakes facility it has in Michigan.
High levels of imports at a low price has been the reason the steelmaker has decided to further its activities at the East Chicago Tin facility into the one which is at the Midwest Plant in Northwest Indiana and the Gary Works.
At present, 297 workers are being employed by the facility in East Chicago and according to the spokeswoman of the U.S. Steel company; the company is expected to positions at the two plants at Northwest Indiana, to half of the employees working in the East Chicago facility.
Meghan Cox who is the company’s spokeswoman has said that the although the decision regarding the employees has not been finalized yet, the goal of the company will be to effectively place as many employees of the East Chicago Tin as can possibly be done in the nearby facilities of the U.S. Steel.
On Friday, the shares of the U.S. Steel company were down by 5.3% at $11.17. The price of the stocks have gone down by 76% after 1st March 2018 after President Donald Trump had announced the decision to impose tariffs on foreign steel imports of up to 25 % in order to help the revival of steelmakers in U.S.