TORONTO – U.S. Steel Corp. is going to shut down its iron and steelmaking operations at its Hamilton Works at the end of the year as part of a bid to cut costs.
A company spokeswoman says the move will see the loss of 47 non-unionized jobs.
The operations have been on idle since late 2010.
The company currently employs more than 1,000 at the Hamilton Works complex, which also includes coking and finishing operations.
U.S. Steel will take a non-cash charge in its fourth quarter of approximately $225 million related to the decision.
The company acquired the integrated steelmaking operations when it bought Stelco, one of Canada’s largest steel manufacturers, in 2007.
FILED UNDER: U.S. Steel
