United States Steel Corp. Announced: March 3 Number of layoffs: 1,500 furloughed Reason for the cuts: U.S. Steel and other steel producers have faced an industrywide slump in demand as the global economic slowdown and credit crisis have undermined key customers in the automotive, construction and industrial equipment markets. Steel prices plunged from record highs last year, though they have recovered modestly in recent months.
Gene J. Puskar / Associated Press
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