Slater Steel slashing 418 more U.S. jobs, closing plant

[UpInArms]

http://makeashorterlink.com/?Y2B612426

Insolvent Slater Steel Inc. is cutting 418 more jobs and plans to close its specialty alloys plant in Fort Wayne, Ind., by early next year, while downsizing another smaller U.S. operation this week.

The Fort Wayne plant is taking the biggest hit, with all 370 hourly and salaried workers to be laid off, Slater said in a release yesterday. Initially, Slater had planned to keep the mill running at a reduced capacity. Slater Lemont Corp., another U.S. unit based in Illinois, also will lay off 48 of its 65 employees.

The Mississauga-based company has been operating under court protection from its creditors since June — one of several Canadian and U.S. steel makers in financial difficulty because of the slumping economy and a flood of cheap imports that have depressed steel prices.

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[madrchsod]

1. yes the nation is

sinking further into dispair and it`s arnold,arnold,arnold. well ole` arnie don`t mean shit to these people.to my fellow steelworkers-don`t mourn-vote.