Pittsburgh, Pennsylvania-based Allegheny Technologies Incorporated, a specialty metals producer and fabricator, has announced a major restructuring plan that is designed to exit low-margin commodity stainless steel products and redeploy assets into profitable alloys used by the aerospace and defense industry. The restructuring will impact approximately 400 employees, including 180 in the Pittsburgh, Pennsylvania area.
Affected are operations in Brackenridge, Pennsylvania; Vandergrift, Pennsylvania; Waterbury, Connecticut; Louisville, Ohio; Bridgeview, Illinois; and Pico Rivera, California. Completion of restructuring activities is anticipated for the end of 2021.
According to ATI CEO Robert S. Wetherbee, "We are taking decisive action to become a more profitable company by further sharpening our focus on the highest-value opportunities for our business. By shedding a low-margin product line and optimizing our footprint, we are redeploying resources to an aerospace and defense-centered portfolio.”
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?