US Steel announced it will reduce operations, resulting in thousands of laid off employees. A blast furnace at the Edgar Thomson plant will be idled, the Irwin facility will operate at reduced levels and coking times will be slowed at the Clairton works.
The company said it has issued or plans to issue Worker Adjustment and Retraining Notification (WARN) notices to approximately 6,500 employees, although the company said in an SEC filing that the actual number of layoffs will likely be around 2,700.
“Our goal during these unprecedented circumstances is to protect lives and livelihoods, which means keeping our employees and communities safe and healthy and the business resilient,” U. S. Steel President and CEO David B. Burritt said in a company statement.
The company reported this week a first-quarter net loss of $391 million, after reporting a profit in the same period a year earlier.