US Steel will restore ten of thousands of jobs in the United States
United States Steel announced its intention to restore jobs in the United States. In Pittsburgh, the company’s management says that they want to provide jobs for ten of thousands of people. However, the Executive Director of US Steel Mario Longhi did not specify the timing of the programme.
In an interview with American television Longhi said: «I am delighted to announce that the company will return all laid-off in difficult times employees.»
This statement confirms the words of Donald trump during the election campaign. The future President said that the jobs recovery is one of the priority areas. In addition, American market is important to protect the domestic market from imports. And create the best conditions for recovery of the steel industry.
US Steel, the past few years, actively cut jobs, and closed businesses. Thus, the Corporation intended to reduce costs, to protect the industry from collapse. The reason for the critical situation — unprecedented low prices for steel products. US Steel implemented a program called «the Carnegie Way».
In 2007, the staff of the campaign consisted of twenty-eight thousand persons in the United States. And by the end of December last year, the number of employees dropped to 21 thousand. Now, the strategy of the Corporation directed the early restoration of pre-crisis levels. US Steel in the coming years we intend to invest in the modernization of enterprises. To obtain funds for the upgrading of production facilities, the company intends on saved funds. As Donald trump already announced the easing of fiscal policy.
Earlier, the price of one share of United States Steel was thirty-seven dollars and a half. Now, the price of shares of us corporations rose by seventy nine percent. The reason for the price jump is the winning trump in the presidential election. Traders continue to argue that us stocks still have potential for growth. According to experts, prices could rise another forty-two percent.
Recall that United States Steel is the largest steel company in North America. The share of the Corporation account for about one third of steel production in the United States.
In addition to the US, the company has offices in Europe and North America. The production is divided into three segments: tubular products, flat products and steel.