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US Steel to lay off 3,500 employees
By www.EmploymentCrossing.com
http://www.EmploymentCrossing.com
US Steel is mothballing a taconite plant in Keewatin, Minnesota and two other facilities in Michigan and Missouri.
The company says 3,500 employees will be laid off.
Amid the global economic slowdown, prices for many steel products have fallen at double-digit rates over the past month.
Taconite is an iron-bearing, high-silica, flint-like rock used to create low-grade iron.
The United States Steel Corporation is an integrated steel producer with major production operations in the United States, Canada, and Central Europe. The company is the world's seventh-largest steel producer ranked by sales.
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