Steelmaker ArcelorMittal SA will be indefinitely idling steel bar operations in East Chicago, IN, resulting in the layoffs of about 400 union and nonunion employees, or 8% of the Indiana Harbor plant's workforce.
ArcelorMittal said that a worldwide drop in demand for steel led to the layoffs at its Indiana Harbor Long Carbon facility in East Chicago. "This indefinite closure and corresponding layoffs reflect measures the company is being forced to take around the world to adapt to the market's situation," ArcelorMittal said in a statement.
ArcelorMittal's Indiana Harbor is the biggest steelmaking complex in North America, with its origins dating back to 1901, according to the company. It has the annual capacity to manufacture 10 million tons of steel, feeding the appliance, agricultural, and other industries.
About 5000 people work at the Indiana Harbor complex.
to Daily News