Gerdau Long Steel North America laid off one-fourth of its employees at its Roanoke, Virginia plant Wednesday, in order to “manage adverse business conditions,” according to a company spokeswoman.
The 11 employees affected were reportedly offered jobs at the company’s plant in Lynchburg, Virginia, on a one-year basis.
In a statement, Gerdau said demand for the long steel products it makes is improving in North America, but "we have come to accept that we are operating in an environment that has become our 'new normal.’ To better position ourselves for success, we are working to build a more sustainable business model. Consequently, we were faced with a difficult decision to reduce a few positions."