Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

US Steel Shed 20% of Management

Jun 6 2003

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Following on from the acquisition of National Steel which closed last month, US Steel have cut nearly 20% of its executive management positions, in accordance with the deal they had made with the United Steelworkers of America. This agreement played a significant part in their acquisition of National Steel, while rival AK Steel struggled to come to terms with the Steelworkers.

As part of their plan to return National Steel to profitability, US Steel promised to cut a greater percentage of management positions, compared to steel workers.

While more changes and cuts are likely in the upper ranks, some of the decision making has been aided by the retirements of several Vice Presidents.

For more information on steel manufacture, click here.

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