U.S. Steel Košice considers laying off 15 percent employees

Management of U.S. Steel Košice is looking at a plan to lay off up to 15 percent of its workforce, or more than 1,500 workers, the Korzar daily reported. This downsizing is to concern mainly white-collar workers. The first of them are set to leave in April, as the current collective agreement ends in March. According to U.S. Steel Košice, one of the reasons is work productivity increasing and the value of the steel company if U.S. Steel decided to sell it. In other words, the fewer the number of employees the more attractive it appears for a prospective buyer. Korzar reports that it's likely the Americans want to focus on their domestic operations, which are currently facing stiff competition from cheap Chinese steel, with US Steel having to cut production. U.S. Steel Košice Labour Union head Mikuláš Hintos confirmed to the daily that he knows about the possible downsizing.