Why is US Steel laying off workers?

Why is US Steel laying off workers?

U.S. Steel Corp. expects to lay off about 2,700 employees as the virus forces the company to idle most of its blast furnaces. Even before lockdowns hit the economy, producers were facing slowing demand in the manufacturing sector.

Why is US Steel closing in Detroit?

U.S. Steel is shutting down its plant in Michigan designed to supply automakers and suppliers. Domestic steel prices, after rising in the immediate aftermath of tariffs imposed on steel imports, have fallen amid weakening demand from the auto and other manufacturing sectors.

Is Boeing still laying off workers?

Boeing will be laying off thousands of additional employees as the airplane manufacturer continues to lose money due to the coronavirus pandemic and the prolonged grounding of its 737 Max jet. As a result, Boeing has slowed production of new aircraft and announced this summer that it would be eliminating 19,000 jobs.

Is US Steel leaving Pittsburgh?

US Steel declined an interview, but in written statements has said it will continue to operate its mills in the Pittsburgh area.

Is Zug Island Open?

U.S. Steel on Zug Island shutting down primary operations ‘indefinitely’ Back to video. “The company expects to begin idling the iron and steelmaking facilities on or around April 1, 2020, and the Hot Strip Mill rolling facility before the end of 2020,” said U.S. Steel in a press release.

How many Boeing employees total?

143,000 employees
The Boeing Company – the world’s largest aerospace company and America’s largest exporter – assembles commercial airplanes and defense products and also builds aerospace components in the United States. The Boeing Company and its subsidiaries had more than 143,000 employees working in 50 states as of December 31, 2019.

Is Boeing leaving Seattle?

Unfortunately, this isn’t the first business to move out, and it won’t be the last. Boeing’s decision follows the relocation of their corporate headquarters to Chicago in 2001, and the recent move by Seattle-based Amazon to move more of its employees out of Seattle to other cities in the state.

Where did US Steel lay off 2, 700 workers?

The majority of the WARN notices were sent to 3,800 workers at its Gary Works in Gary, Indiana, and its nearby Midwest Plant in Portage, Indiana. Press reports are saying that the company plans to lay off 10 percent of the workforce at those facilities but could lay off far more as steel demand continues to plummet.

When did NBCUniversal start the layoff process?

NBCUniversal started layoffs on August 4, impacting its broadcast networks, movie studio, and theme parks. The company is expected to cut less than 10% of its 35,000-person workforce. The NBC Universal logo on one of the company’s Los Angeles buildings.

How many people were laid off by United Airlines?

The airline had announced on July 8 that it would issue layoff and furlough notices to 36,000 employees, including 2,250 pilots and 15,000 flight attendants. Before that, in a leaked May 4 memo, United Airlines said it expected to lay off at least 30% or some 3,400 employees on its administrative staff.

Are there any layoffs in the oil industry?

An awning over an Allstate branch. Oil giant Shell is cutting up to 9,000 jobs, or roughly 10% of its workforce, as of September 30. The layoffs are meant to cut costs amid the pandemic, as well as position the company to move away from fossil fuels.