The decision by U.S. Steel to shut down two coke batteries at Gary Works means 120 workers will be displaced, but not necessarily that they'll no longer be loyal employees.
GARY | U.S. Steel is shutting down half of the coke batteries at Gary Works as part of an overall cost-cutting strategy the company is pursuing after failing to turn an annual profit in five years.
Northwest Indiana's two major steelmakers are both expected to report losses during the third quarter, though market conditions have been gradually improving.
U.S. Steel recently overhauled its leadership after years of losses and a cement-booted stock price that has sunk by about 90 percent since 2008, but an analyst warns a turnaround will not be easy.
GARY | United States Steel Corp., the company that built the city of Gary and was once the largest corporation in the world, has a new leader.
ArcelorMittal and U.S. Steel have been working on streamlining operations after a prolonged economic slump has kept them from being profitable, and the Pittsburgh-based steelmaker plans to review labor costs at all its facilities.
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