On the heels of comments made by its CEO regarding potential callbacks in the steel industry, U.S. Steel this morning sought to tamp down any specific expectations.
The company released the following statement this morning:
“U. S. Steel President and CEO Mario Longhi recently appeared on CNBC’s ‘Power Lunch’ program and was asked about market outlook in light of the recent U.S. election and various initiatives proposed by the incoming administration.
“Mr. Longhi mentioned the possibility of recalling employees who have been laid off due to a sustained period of difficult market conditions in the domestic steel industry.
“To clarify – Mr. Longhi’s comments about potentially recalling some 10,000 workers was referring to the American steel industry overall, not just to employees of United States Steel Corporation. The domestic steel industry has been forced to lay off more than 16,000 people (per the U.S. Bureau of Labor Statistics) since January 2015 due to steel products illegally dumped on U.S. shores. Layoffs at United States Steel have contributed to the total of 16,000,” the statement said.
U.S. Steel laid off more than 2,000 workers during the last year at its Granite City mill, with no indication when or if callbacks will take place.
— From the Illinois Business Journal