US Steel (NYSE:X) announced on Tuesday that it will indefinitely idle the last operating blast furnace at its Granite City Works in Illinois to “ensure melt capacity is balanced with our order book.”
With one of the two blast furnaces for making steel already shut down at the facility, and the second being closed earlier this fall, US Steel (X) delivered a cruel blow to 1,000 employees – including 400 who have been on temporary layoff since October 1 – by informing them that the anticipated closure would extend beyond the initial six months, as reported by the St. Louis Post-Dispatch.
Effective as soon as January 28, the company has signaled changes that will significantly impact the workforce at the Granite City mill, leaving the livelihood of numerous families hanging by a thread.
Although US Steel’s (X) steel rolling and finishing operations at the site will continue, the company’s decision to halt steelmaking operations at the mill has left the entire community reeling.
Adding insult to injury, US Steel (X) previously announced its consideration of a sale of the company; CNBC revealed that five parties are expected to make offers, indicating how disposable the well-being of its employees must seem to the company.