ArcelorMittal may lay off 2,400 in Indiana

[Dr.Phool]

Source: Cleveland Plain Dealer

ArcelorMittal may lay off 2,400 in Indiana
Posted by Sarah Hollander/Plain Dealer Reporter November 24, 2008 12:17PM
Categories: Breaking News, Economy, Manufacturing, Real Time News

ArcelorMittal and United Steelworkers Local 979 said the partial-pay layoffs that began at its Cleveland operations earlier this month are still voluntary, although the world's largest steelmaker said today that it will lay off up to 2,444 workers at its Burns Harbor, Ind., plant in January.

"Potential workforce reductions are a direct result of the extraordinary economic environment we are facing and the company hopes to return workers to their jobs as market conditions warrant," ArcelorMittal said in a written statement.

ArcelorMittal has reduced North American production by 40 percent, including idling both of Cleveland's blast furnaces. The USW represents about 1,450 workers at the Cleveland mill.

Read more: http://blog.cleveland.com/business/2008/11/arcelormittal_may_lay_off_2400.html

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Hey, but the stock market is up! Citi owns the Treasury!

Who needs jobs anyway?

(More at another link.)
http://www.cleveland.com/plaindealer/stories/index.ssf?/base/business-8/122717347226580.xml&coll=2

Steel shipments down 23% in October from a year ago
Thursday, November 20, 2008
Sarah Hollander
Plain Dealer Reporter

Steel shipments from U.S. service centers plummeted in October, another trickle-down casualty of the limping economy.

Shipments dropped nearly 23 percent -- 3.6 million tons compared to 4.7 million for the same time last year, according to a report Wednesday from the Metals Service Center Institute.

Local service centers said their inventories should carry them through a decline in steel production for a while, especially since orders are down. Eventually, however, steel pricing could become a concern.

(snip)

[IndianaGreen]

1. If Obama were President, this wouldn't be happening.

Where is the steel that Obama will need for his infrastructure projects?

[OhioChick]

2. By then,

Our only option for buying steel will be from China.

[Kolesar]

3. I wonder if that Indiana mill is the one that LTV bought from Youngstown Sheet & Tube in the 1970s

LTV bought YST because they only wanted the new Indiana facility , not the Youngstown plant. They never intended to invest in Youngstown, Ohio, so they closed "our" plant in 1977.

[Dr.Phool]

4. Yep, that's it.