United States Steel, the world's largest steelmaker, has often been criticized for being a clumsy, poorly organized giant with too much fat. Last week Big Steel answered the critics with its most sweeping reorganization since 1951. The move gave the jitters to thousands of its employees who fear for their jobs, and caused competitors to wonder just how tough the revamping will make the company that already sells a fourth of the steel in the U.S. "How do you streamline an elephant?" asked one rival.
Big Steel plans to streamline by combining seven divisions covering mining, shipping and steelmaking into...
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