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U. S. Steel Idling Tube Mills, Laying Off Nearly 800
03/18/2016 - United States Steel Corporation is temporarily idling tube mills in Texas and Alabama and laying off nearly 800 salaried and hourly employees, reports the Pittsburgh Post-Gazette.
The Post-Gazette has the story here.
In January, U. S. Steel put workers on notice at its Lone Star, Texas, USA, mill that they might be laid off.
The company has been throttling back tube production on account of the persistent downturn in the oil and gas market. In fact, the Baker-Hughes rig count, a barometer of tube demand, hit record low last week, falling to a level not seen since 1949. As of 18 March, the count stood at 476, down five more from the previous week.
In January, U. S. Steel put workers on notice at its Lone Star, Texas, USA, mill that they might be laid off.
The company has been throttling back tube production on account of the persistent downturn in the oil and gas market. In fact, the Baker-Hughes rig count, a barometer of tube demand, hit record low last week, falling to a level not seen since 1949. As of 18 March, the count stood at 476, down five more from the previous week.
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