Severstal Layoffs Job Cut: fires employees: Finance Trading Times

Severstal Layoffs Job Cut: fires employees

All sectors are feeling the heat in the worst of its times and metal production companies are no exception to it. More bad news on the job front as more and more companies are going for layoffs. The latest one to add to the list is, Severstal, which is in the Steel manufacturing business, has decided to fire some employees and go ahead with its planned layoffs. Severstal  Layoffs

How many employees may be fired in the Severstal layoffs?
There is no concrete detail available about the no. of layoffs bound to happen, but the news is that company is going to continue with its layoff plans as decided in December. It is reported by the management that the layoff count will vary weekly depending on production needs. This is really worse because the employees never know when they can be fired.

When will the Severstal layoffs happen?
The only news that is available is that the layoffs will be done as per the need on a weekly basis.

Which locations will Severstal Layoffs happen?
Wheeling, W.Va.; Warren, Ohio; Sparrows Point, Md., and Dearborn, Mich. are some of the locations which will be affected by layoffs severely.

What actions will be taken by Severstal for reducing costs?
No details are available about the measures taken for reducing the costs.

What are the reasons for Severstal layoffs?
Worsening global financial situation, competition, lack of demand and mounting costs are some of the reasons quoted by the management to justify the layoffs.
Let's hope that alternative jobs are available to the affected employees of Severstal Layoffs Job Cut
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