U.S. Steel keeps 4-day work week
The labor union and management of the U.S. Steel Košice steel mill have agreed to cut work time in December and January. Workers will stay home with 60% pay for one day a week. The management proposed a 4-day work week for the entire first quarter, but the union did not agree, hoping for a positive turnaround on the market. The steel mill has been cutting work time since April, due to the inflow of cheap Asian steel imports to the EU. High prices of emission allowances are undermining its price competitiveness.