GRANITE CITY, Ill. – Up to a thousand employees at U.S. Steel’s Granite City Works plant could be out of a job this holiday season, as the steel producer announced Tuesday that it would idle the facility indefinitely.
In a statement, a spokesperson for U.S. Steel said the Granite City mill is being idled “in order to help ensure melt capacity is balanced with our order book” and will meet demand by leveraging its active iron and steelmaking plants.
Employees at the Granite City facility who may be affected have been notified of these changes, according to the spokesperson.
Meanwhile, shares of U.S. Steel are up more than 53% over the past five years, as the company solicits potential buyers.