Steel giant ArcelorMittal will indefinitely idle its steel bar operations at Indiana Harbor in East Chicago, resulting in the layoffs of about 400 union and non-union employees, said Jim Robinson, a district manager for the United Steel Workers (USW).
The USW has announced that it received notice of the layoffs, which constitute eight percent of the Indiana Harbor plant's total workforce of about 5,000. The ArcelorMittal Indiana Harbor plant is the biggest steelmaking complex in North America.
In its statement regarding the layoffs, ArcelorMittal said "The global economic downturn has caused a reduction in the demand for the company's products." The statement continued, "Volumes are down significantly and market conditions remain week. This indefinite closure and corresponding layoffs reflect measures the company is being forced to take around the world to adapt to the market's situation."
The company said it would restart operations as soon as warranted by market conditions.