Canton, Ohio-based TimkenSteel, a manufacturer of steel and associated alloys, is continuing with a “lean/agile” restructuring announced earlier this year to improve profitability “through a combination of investment in growth, resource optimization and efficiency improvements.”
As a consequence of the restructuring, TimkenSteel has announced a reduction in headcount of more than 100 non-union and union employees.
According to a company spokesman, “In the ongoing effort to balance inventory with customer needs, we have chosen to permanently lay off some production employees as we adjust our staffing and production schedule to align with market demand. It is always our hope that as customer demand increases, we will provide those laid off with an opportunity for reemployment.”
It is no secret that the steel industry is cyclical and deeply impacted by foreign products and tariffs.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?