Grim Tradition: More U.S. Steel Layoffs

More U.S. Steel layoffs

The Christmas season is turning into the firing season in the American steel industry. Bethlehem Steel used the period between Christmas and New Year's in 1982 to announce the closing of its 83-year-old steelmaking plant in Lackawanna, N.Y., near Buffalo, and the elimination of 7,300 jobs. Last week U.S. Steel, the largest American steelmaker, carried on the grim yuletide tradition. The company announced that it will close all or parts of 73 operations in 13 states, thereby cutting its steelmaking capacity 17% and reducing companywide employment by 15,436, to...

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