Ispat Cuts More Than 300 Workers
CHICAGO (AP) _ Ispat International N.V. has fired more than 300 white-collar workers since taking over Chicago-based Inland Steel Co. this July.
The company made the cuts without public announcement, reducing Ispat Inland Inc.’s salaried work force by 12.5 percent, according to filings with the Securities and Exchange Commission.
Most of the cuts were at the 1,900-acre Indiana Harbor Works in East Chicago, Ind., on Lake Michigan. The company also has laid off 36 union workers at Harbor Works on a voluntary basis.
Workers expect more cuts as Ispat restructures its new properties.
Inland Steel Co. employed about 8,900 workers when Ispat International bought the company this summer.