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Economy and Business

U.S. Steel layoffs are coming
Company is short on details

Web Editor
M.L. Schultze
In The Region:

U.S. Steel Corp. has announced layoffs in Lorain, less than a week after a tariff decision sent stock prices for domestic steel-tube makers plummeting. 

According to the Elyria Chronicle-Telegram, the company says it is “adjusting production” as a  result of business conditions. It does not say how many people will lose their jobs or when. 

The United Steelworkers local represents about 1,200 of those working at the U.S. Steel plant and the Republic Steel plant next door. 

Last week the U.S. Department of Commerce imposed import tariffs on steel products from many countries, but not on the biggest exporter to the U.S. – South Korea. The U.S. manufacturers claim the Koreans are dumping their steel here -- selling it at below market rates. 

Another area manufacturer affected by the decision is V&M Star, which makes steel pipes in Youngstown.

Here's U.S. Steel's statement on the layoffs in Lorain:
We continually review and analyze business conditions and the impact they have on our customers.
As a result of business conditions we are adjusting production at our Lorain Tubular Operations. While we have made every effort to maintain employment levels at our operations; unfortunately we must now adjust our workforce to match our production levels.
The United Steelworkers have been notified. We cannot speculate on future business decisions at this time.
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