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2025-03-28 Economy
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Steelmaker to lay off 600 employees at Michigan plant due to weak auto demand
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[FoxBusinessNews] Cleveland-Cliffs attributed the layoffs to weak demand for steel among US automakers
| This should turn around in the midterm with all the manufacturing onshoring following the threat of tariffs.. |
Steelmaker Cleveland-Cliffs announced this week it will idle one of its production factories and lay off about 600 workers, citing soft demand for steel used in auto manufacturing.
Cleveland-Cliffs said it will idle portions of its plant in Dearborn, Michigan, this summer and lay off roughly 600 employees due to what it said was "the current reality of weak automotive production in the U.S."
The company plans to temporarily idle its blast furnace, basic oxygen furnace steel shop and continuous casting factories in Dearborn. Layoffs would take effect July 15.
"These actions will allow the company to operate more efficiently and in a more cost-competitive way for the current market environment," Cleveland-Cliffs said in a statement. "We believe that once President Trump's policies take full effect and automotive production is re-shored, we should be able to resume steel production at Dearborn."
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Posted by Skidmark 2025-03-28 00:14||
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Posted by Skidmark 2025-03-28 07:10||
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Posted by NN2N1 2025-03-28 08:54||
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Posted by Skidmark 2025-03-28 09:12||
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Posted by Skidmark 2025-03-28 09:12||
2025-03-28 09:12||
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