Rationalisation in US Steel continues

The biggest employer in Eastern Slovakia, U.S. Steel Košice, will cut more than 20 jobs in administration and management, announced the company's spokesman Ján Bača on Wednesday. The exact number of people to lose their jobs at the steel mills hasn't been confirmed yet. "The overall tally of employees affected will hinge also on production and business conditions and needs," said Bača. The decision has been made due to the prevailing situation on the steel market, "particularly in the recent six months, we've recorded a massive rise of imported products at extremely low, dumping prices," added Bača explaining what is behind the company's prompted action. This is another step towards the slimming down of the company's administrational structure. In January of this year the company offered a very generous compensation of 10 monthly salaries to those employees who decided for a premature retirement.