United States Steel Clarifies Comments Made by President & CEO Mario Longhi During CNBC Interview
PITTSBURGH, Dec. 8, 2016 /PRNewswire/ -- Today United States Steel Corporation (NYSE: X) issued a statement regarding comments made yesterday by President and CEO Mario Longhi during an interview on CNBC.
The company's statement is as follows:
U. S. Steel President and CEO Mario Longhi recently appeared on CNBC's "Power Lunch" program and was asked about market outlook in light of the recent U.S. election and various initiatives proposed by the incoming administration. Mr. Longhi mentioned the possibility of recalling employees who have been laid off due to a sustained period of difficult market conditions in the domestic steel industry.
To clarify - Mr. Longhi's comments about potentially recalling some 10,000 workers was referring to the American steel industry overall, not just to employees of United States Steel Corporation. The domestic steel industry has been forced to lay off more than 16,000 people [per the U.S. Bureau of Labor Statistics] since January 2015 due to steel products illegally dumped on U.S. shores. Layoffs at United States Steel have contributed to the total of 16,000.
United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading integrated steel producer and Fortune 250 company with major operations in the United States and Central Europe. For more information about U. S. Steel, please visit www.ussteel.com.
SOURCE United States Steel Corporation
For further information: Erin DiPietro, Manager, External Communications, T - (412) 433-6845, E - firstname.lastname@example.org