AK Steel may continue cutting jobs

AK Steel may continue cutting jobs

Middletown based steel producer AK Steel has recently announced that an arbitrator decided that the company may continue cutting jobs despite the provision of minimum workforce in its labor contract with the union. The decision now allows AK Steel to continue cutting jobs at its Middletown plant. AK Steel has reduced work force by 125, indicating 4% of total workforce, since January as a part of its cost-saving plan. However the union objected the layoffs. AK stated that new contracts with the workers at Mansfield, Coshocton and Rockport plants do not include minimum workforce provision. Therefore, the company may continue to follow its cost-saving plan.