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21 July, 2019 00:00 00 AM
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US Steel to lay off 2,500 workers in Slovakia

AFP, Bratislava

The United States Steel Corporation said Friday it would cut around a fifth of its workforce in Slovakia over by the next two years due to competition from cheap steel imports from outside the European Union.

The company also faulted EU environmental regulations that have driven up the cost of power used to run the massive plant.

The layoff will affect some 2,500 of the nearly 12,000 workers at the Kosice plant located in Slovakia’s poorer east struggling with high unemployment.

The steel mill ranks among the largest employers in the eurozone country of 5.4 million people focused primarily on car production.

By the “end of 2021 we will reduce the number of employees working at U.S. Steel Kosice and its subsidiaries by 2,500 employees,” company president James Bruno said in a statement.

“We must act to protect our business and remain competitive,” he added.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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