AM I NEXT? NO LOVE AT CRUCIBLE INDUSTRIES

Solvay, New York-based Crucible Industries, a developer and manufacturer of specialty steels and sintered steels for the automotive, cutlery, aerospace, and machine tool industries, has indicated it is under severe financial stress, considering Chapter 11 Bankruptcy and has filed a preemptive WARN (Worker Adjustment and Retraining Notification) notice.

Approximately 158 employees will be impacted by the closure of Crucible's facilities in Geddes, New York.

In a letter to employees, President John Shiesley states that due to "serious financial difficulties," the company will likely file for Chapter 11 bankruptcy. Without a buyer, Shiesley continued, the steel plant is set to close its doors in March of 2025.

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. We see good people being laid off through no fault of their own. Just because something terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT WHEATLAND TUBE

Sharon, Pennsylvania-based Wheatland Tube, a manufacturer of steel pipe, sprinkler pipe, tubing, conduit, conduit fittings, including aluminum conduit and fittings, has announced the closure of its Chicago, Illinois manufacturing facility.

The closure will impact 238 employees and is scheduled for November 1, 2024.

According to the company, the decision was driven by a surge of imported steel from Mexico, saying the Biden Administration was no longerenforcing a Trump-era trade agreement that would allow it to tax Mexican steel imports at a higher rate of 25%. .

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. We see good people being laid off through no fault of their own. 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. While many employees can read the writing on the wall; why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT TENARIS

Luxembourg City, Luxembourg-based Tenaris, a multinational manufacturer of Oil Country Tubular Goods, like drill pipe and casings, has announced it will reduce the force in its facilities in Koppel, Pennsylvania, and Brookfield, Ohio. The steel shop in Koppel, Pennsylvania, is not affected.

Approximately 170 employees at the company’s facilities in these two states will be impacted by the layoffs. The decision appears to be driven by imports of foreign pipe products.

According to a company spokesperson, “These imports are mainly manufactured in China and shipped through countries such as Korea, Thailand, and Taiwan. They are being brought into the United States and sold at less than fair market value. Most of these countries do not have any drilling activity and produce OCTG with the purpose of exporting, mainly to the U.S.”

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. We see good people being laid off through no fault of their own. 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?