US Steel (X) has announced that it’s laying off employees due to low oil prices.
The US Steel layoffs will include 756 employees. 614 employees at the company’s Lorain Tubular Operations near Cleveland will be laid off an an additional 142 will be laid off from the company’s plant in Houston, reports Pittsburgh Post Gazette.
US Steel layoffs will start in early March and may continue into May. The company creates seamless pipes that are used by oil and gas companies, but demand is down due to the low oil prices, Pittsburgh Post Gazette notes.
The US Steel layoffs will affect all parts of the Cleveland plant. It’s unknown when exactly the layoffs at the company will end, reports Fox 8.
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