After AK Steel announced in January that it planned to permanently close its Ashland, Kentucky facility, the company submitted a Worker Adjustment and Retraining Act (WARN) notice to the state this month, indicating it plans to lay off all 260 employees of the mostly idled plant in phases, completing the process by the end of the year.
The first phase will occur on Nov. 4, with layoffs totaling 176. The second phase will take place during a two-week period starting Dec. 17, with the remaining 84 workers affected.
In a filing with the Securities and Exchange Commission, AK Steel said it is finalizing transition plans for employees interested in relocating to its other facilities, although the company did not disclose how many workers would relocate.
The company said it expects to realize annual savings of more than $40 million from the plant's closure.