What is the benefit of AK Steel starts salaried employee layoff?”
NEW YORK, Jan 8 (Reuters) – AK Steel (AKS.N) said on Thursday it was implementing a salaried workforce layoff plan due to the continuing economic downturn. It gave no numbers, but said it has about 1,500 salaried employees among its staff of 6,500. AK Steel, whose corporate headquarters are in West Chester, Ohio, said the action was taken because the recession has significantly affected its customers, resulting in fewer orders for steel products. The layoffs will likely affect salaried employees in all of the company’s plants and offices in West Chester, Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, Kentucky and Rockport, Indiana, it said. The steelmaker said it hopes the layoffs are temporary, but noted a continuation of the economic downturn could result in some or all of the layoffs becoming permanent job reductions. “We have the utmost empathy for our employees, and we hope they may soon return to their jobs,” said Chairman, President and Chi
