Post by Logan on Dec 10, 2016 19:02:14 GMT -6
U.S. Steel CEO Inaccurately Promises '10,000 Jobs,' as Lorain Mill Lays Off 33 More
U.S. Steel will lay off 33 more employees from its Lorain mill, the company announced in an unexpected move. Despite what appears to be a burst of short-term growth, the company will cut its remaining Lorain workforce by nearly 16 percent.
It's another unfortunate notch for the city of Lorain, and it's a headline that clashes with U.S. Steel corporate confidence.
In a CNBC interview this week, U.S. Steel CEO Mario Longhi said that his company is ready to hire back 10,000 employees. (Video embedded below.)
The company later clarified Longhi's remarks, reporting that he was probably talking about the entire domestic steel industry. More than 16,000 workers have been laid off from steel jobs in the U.S. since January 2015. It's unclear whether Longhi misunderstood the conversation or whether he believes that the deregulation of the manufacturing industry under a President Donald Trump will spur an American hiring spree.
Read more: www.clevescene.com/scene-and-heard/archives/2016/12/09/us-steel-ceo-inaccurately-promises-10000-jobs-as-lorain-mill-lays-off-33-more
U.S. Steel will lay off 33 more employees from its Lorain mill, the company announced in an unexpected move. Despite what appears to be a burst of short-term growth, the company will cut its remaining Lorain workforce by nearly 16 percent.
It's another unfortunate notch for the city of Lorain, and it's a headline that clashes with U.S. Steel corporate confidence.
In a CNBC interview this week, U.S. Steel CEO Mario Longhi said that his company is ready to hire back 10,000 employees. (Video embedded below.)
The company later clarified Longhi's remarks, reporting that he was probably talking about the entire domestic steel industry. More than 16,000 workers have been laid off from steel jobs in the U.S. since January 2015. It's unclear whether Longhi misunderstood the conversation or whether he believes that the deregulation of the manufacturing industry under a President Donald Trump will spur an American hiring spree.
Read more: www.clevescene.com/scene-and-heard/archives/2016/12/09/us-steel-ceo-inaccurately-promises-10000-jobs-as-lorain-mill-lays-off-33-more