Low Oil Prices Are “Unequivocally” Bad For 756 US Steel Workers, 2 Plants Idled
by Tyler Durden
ZeroHedge.com
01/06/2015
Citing “softening market conditions influenced by oil,” US Steel has issued lay-off warnings to 756 workers in the US… Layoffs will begin in early March as both Ohio and Texas plants will be idled.
Via Bloomberg,
*U.S. STEEL SAYS 756 WORKERS GOT WARN NOTICES
*U.S. STEEL SAYS 614 WORKERS AT LORAIN TUBE PLANT, OHIO
*U.S. STEEL SAYS 142 WORKERS AT TEXAS PLANT
*U.S. STEEL CITES SOFTENING MARKET CONDITIONS INFLEUCNED BY OIL
*U.S. STEEL SAYS LAYOFFS TO BEGIN EARLY MARCH
*U.S. STEEL SAYS BOTH PLANTS WILL BE TEMPORARILY IDLED
Where’s Larry Kudlow? But what about the lower costs? What about the “unequivocally good” meme?
