US Steel confirmed to media sources today that it will eliminate 25 percent of its salaried workforce in North America in an attempt to cut costs. The company did not provide an exact number of layoffs this will entail.
“This is part of the ongoing adjustment to staff levels and operations due to challenging market conditions, including fluctuating oil prices, reduced rig counts, depressed steel prices and unfairly traded imports,” a company spokesperson told media.
The company laid off almost 800 hourly and salaried workers from its tubular operations last month in response to the slumping energy industry.