US Steel plans to temporarily lay off up to 200 workers in Michigan

[riversedge]

Source: Reuters



Published Mon, Aug 19 2019 9:12 PM EDTUpdated Moments Ago





Key Points

U.S. Steel will temporarily lay off up to 200 workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with the State of Michigan.
In mid-June, the company said it would idle two blast furnaces at its Great lakes and Gary Works plants, citing lower steel prices and softening demand.
An official at the United Steelworkers union, which represents U.S. Steel workers, said lay-offs were also planned for the Gary Works facility in Indiana.

Read more: https://www.cnbc.com/2019/08/19/us-steel-plans-to-lay-off-hundreds-of-workers-in-michigan.html

---

Link to tweet

?s=20



Christopher Shea
@chrstphrsh
·
1h
Replying to
@Bruno_J_Navarro
Remember, Trump has repeatedly claimed that US Steel is opening six (or sometimes seven) new plants as a result of his policies.
1 more reply
Cole Monfalcone
@ColefordEsquire
·
2h
Replying to @Bruno_J_Navarro

“trade wars are good and easy to win”



#MoscowMitch
@flipitbloo
·
1h
Replying to
@Bruno_J_Navarro
Don’t worry. Good thing the #GOPTaxScam made everyone rich. People have $1000s in the bank!

[no_hypocrisy]

1. My experience:

When "they" say temporary, they usually mean permanent in stages.

[BlueIdaho]

7. "Letting go of workers..."

Doesn’t sound so temporary to me.

[no_hypocrisy]

8. Laid off is different than being fired.

[BlueIdaho]

10. I know that

But in this case - I think it’s a distinction without a difference.

[Eugene]

2. So much winning...

[IronLionZion]

3. Trump supporters should invest everything in steel and coal stocks

Put their retirement funds and life savings into steel since Trump is creating so many jobs in that field you'll get sick of winning.

[Submariner]

4. Only yesterday Trump said their 'pockets are loaded with cash'

so your steel investment advice is very timely.

[IronLionZion]

12. Trump promises the economy is strong and there won't be a recession

so his supporters should invest accordingly if they believe his lies.

[former9thward]

14. Steel companies are global.

So investments are subject to what is happening globally -- not just the U.S. I have seen no evidence of a U.S. recession. Many seem to be rooting for one.

[IronLionZion]

15. Trump doesn't see evidence of a recession either

and it looks to be global with impacts from the trade war and Brexit. Would you invest in US Steel?

[former9thward]

16. No, they have too much debt.

And for steel companies in general, China has far too much steel producing capacity. Far beyond what it can consume domestically so it has to dump its steel globally at below market prices. Through this process they try to transfer their systematic unemployment to other countries. So no I avoid steel companies and others than may be affected by China.

[Initech]

5. Jobs, jobs jobs!!!

[SunSeeker]

6. Winning!

[Yo_Mama_Been_Loggin]

9. So much winning!!!!!

[WhoWoodaKnew]

11. Trump sucks

[Cryptoad]

13. I guess the

Trumpster's plan for Coal fired Steel jet fighters ,hasn't worked out too well.

[Efilroft Sul]

17. I remember when U.S. Steel temporarily laid off my dad in 1982.

"Temporarily" was pronounced "permanently."

[ck4829]

18. "Despite the strong economy"