US Steel is closing a Detroit-area steel mill and laying off 1,500 workers

https://www.cnn.com/2019/12/20/business/us-steel-mill-closing/index.html

US Steel is closing a mill near Detroit, laying off workers and cutting its dividend. The troubled company is trying to reverse operating losses it now forecasts for the fourth quarter.

The mill, called the Great Lakes Works, is expected to close its iron and steelmaking operations by April 1. The part of the mill that rolls slabs into sheets of steel will shutter by the end of next year. About 1,500 jobs will be lost, the company said. US Steel had already announced a temporary layoff of about 200 workers at the plant earlier this year.

The company may keep some adjoining operations and a warehouse open if justified by customer demand, it said. But it will shift the steel production to a plant in Gary, Indiana, where it recently made a $750 million investment.

"We are conscious of the impact this decision will have on our employees, their families, and the local community, and we are announcing it now to provide them with as much time as possible to prepare for this transition," said CEO David Burritt. "These decisions are never easy, nor are they taken lightly."

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But,but,but I thought the Orange Jesus said the economy was doing great, the greatest economy eveh. Even Morning Jerk says the Orange Jesus should run on the economy and get re-elected.