BETHLEHEM STEEL PLANT AT SPARROWS POINT – NARA – 546882 (Photo credit: Wikipedia)
The owner of the financially ailing Sparrows Point steel plant is idling operations there, warning 1,975 workers Thursday that they would be laid off starting next month.
The news, which casts doubt on the future of the Baltimore County facility that was once owned by Bethlehem Steel, came as RG Steel is shopping the steel mill and its other assets to potential buyers.
RG Steel informed the Maryland Department of Labor, Licensing and Regulations that layoffs would begin June 4 and continue through June 18. The state said the company would be laying off 1,714 hourly and 261 salaried workers, losses that would be a significant blow to the economy.
For years, the plant has faced uncertainty before last-minute deals salvaged the mill. RG Steel is the latest owner to try to sustain steel production at the once-flourishing facility.
Read more: http://www.mcall.com/business/mc-allentown-sparrows-point-idle-20120525,0,7750660.story