HUMAN RESOURCES

US Steel to cut 756 jobs on oil price

MAJOR US steel producer US Steel Corporation plans to idle two pipe plants in Houston in Texas and Lorain in Ohio and cut up to 756 workers as the oil price tumble flows on downstream.

The company notified 614 workers about potential layoffs in Lorain and 142 in Houston, adhering to laws mandating 60 days advanced warning.

The Lorain plant produces about 780,000 tonnes of seamless tubular steel products annually, while Houston produces 120,000t.

The plants will be put into idle in early March, with company spokeswoman Courtney Boone pointing the finger at "softening market conditions influenced by oil prices and trade", according to worldoil.com.

The news comes five months after US Steel announced it would halt two unprofitable tube mills in Pennsylvania and elsewhere in Texas.

TOPICS:

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB CCS Report 2024

ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry