ArcelorMittal laying off 125 people at Montgomery County plant
ArcelorMittal plans to lay off 125 workers at its Montgomery County plant starting in April, according to a notice the company filed with the state Department of Labor and Industry.
The Luxembourg-based company announced in September that it was idling its rolling mill at the Conshohocken plant because of limited demand from customers that build bridges, ships, tank cars and military equipment and “the ongoing surge of unfairly traded imports of steel.”
Other plant operations, including the steel finishing facilities, will continue, the company said. A company fact sheet on Conshohocken says the plant employs 265 people.
The company plans to implement the layoffs incrementally, with 17 employees being laid off in mid-April, ArcelorMittal said in an email.
The layoffs are temporary and the company plans to maintain the rolling mill so that it can be restarted if the market improves, the email said.
While the overall company is profitable, the USA operations haven't made a profit in five of the last six quarters, according to a Feb. 15 statement by John Brett, president and CEO of ArcelorMittal USA.
For the fourth quarter of 2017, the U.S. operations lost $38.9 million, the statement says.
Brian Bowling is a Tribune-Review staff writer. Reach him at 724-850-1218, firstname.lastname@example.org or via Twitter @TribBrian.