At US Steel’s shareholder meeting in Pittsburgh Tuesday, CEO Mario Longhi told reporters that only around 2,800 of the approximately 9,000 US steel employees who have received layoff warnings have actually been laid off.
Longhi blamed a “wave of imports and problems in the oil patch” on the “brutality of market conditions” that led to the layoff notices, and while the company is unsure of how long these conditions will last, “we’re preparing for a stormy period ahead,” Longhi said.