Alabama steel and coal firms hit with layoffs, cuts in production
Post Date: 23 May 2015 Viewed: 320
The plight of U.S. steel producers is far from improving.
Production facilities around Alabama are beginning to idle in the midst of an unstable market, and the results are starting to trickle into different sectors.
Firms across Alabama are struggling against a strong U.S. dollar, a flooded steel market and decreased energy prices.
This has brought some production sectors around the state to its knees, but the future may have a silver lining for some of these firms.
U.S. Steel Corp.
On Wednesday, U.S. Steel Corp. laid off 285 workers at its Gary Works mill in Gary, Ind., according to the Associated Press.
The company laid off another 67 salaried managers at the Gary-based facility on May 15.
U.S. Steel attributed the continued cut backs to "challenging market conditions."
Related: What's causing U.S. Steel's woes?
While other firms struggle to stay afloat in a market flooded by cheap Chinese steel, U.S. Steel Corp. has cut jobs across its large U.S. footprint over the last several months.
In January, the company sent 1923 federal WARN notices to employees at production sites in Fairfield, Ala. Then in March, U.S. Steel announced 2,000 layoffs in Illinois and 700 in Minnesota.
By April, 799 workers had been temporarily laid off at both the Fairfield Works and Fairfield Tubular facility. This put a substantial dent in production for Birmingham's 18th largest employer.