Steel Mills
Cliffs Bonus a Shot in the Arm for Workers
Written by Michael Cowden
July 6, 2021
Cleveland-Cliffs has launched a cash-incentive program across all its facilities to encourage employees to get their COVID-19 vaccines.
“The program works per site. The company will pay all vaccinated employees a cash bonus based upon the level of vaccination achieved by that site,” a Cliffs spokeswoman said.
If 85% of workers at a given mine, mill or stamping plant get their shots, each vaccinated employee at that site receives a $3,000 cash bonus.
The cash bonus drops to $1,500 per vaccinated worker if the percentage of those getting their shots is 75-84.9%. And it plunges to a mere $200 if the 75% threshold is not met.
The program, which is voluntary, runs through Aug. 21, 2021, the spokeswoman said.
Cleveland-Cliffs is the largest flat-rolled steelmaker and iron ore pellet producer in North America, according to its website. It also operates R&D centers, several tooling and stamping plants, and two tube mills.
The company has operations in Ontario and in 10 U.S. states: Minnesota, Michigan, Illinois, Indiana, Ohio, Pennsylvania, West Virginia, Kentucky, North Carolina and Alabama. It had 25,000 employees as of December 2020, per a company fact sheet.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
SDI presses on with steel, aluminum investments
Steel Dynamics Inc. remains optimistic about its prospects as it ramps up flat-rolled steel operations and prepares for the production of aluminum products next year. Executives from the Fort Wayne, Ind.-based steelmaker provided an update on the company’s operations on a conference call on Thursday held to discuss SDI’s third-quarter earnings results.
CMC earnings slide, but still near top mark
CMC Fourth quarter ended Aug. 31 2024 2023 Change Net sales $1,996.1 $2,209.2 -9.6% Net income (loss) $103.9 $184.2 -43.6% Per diluted share $0.90 $1.56 -42.3% Full year ended Aug. 31 Net sales $7,925.9 $8,799.5 -9.9% Net income (loss) $485.5 $859.7 -43.5% Per diluted share $4.14 $7.25 -42.9% (in millions of dollars except per share) […]
SDI posts lower Q3 profit, sees better times in ’25
Steel Dynamics Inc. (SDI) reported a drop in third-quarter profits driven largely by lower flat-rolled steel prices. The Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker also saw scrap prices slip. That happened because of softer demand from domestic mills taking planned maintenance outages.
Cliffs hosts fireside chat on industry, union, government collaboration
Cleveland-Cliffs’s Chairman, President, and CEO Lourenco Goncalves hosted a fireside chat with US Trade Representative Katherine Tai and Acting Secretary of Labor Julie Su on Friday at the company’s plate mill in Coatesville, Pa.
Nippon agrees to sell Calvert stake, if USS deal closes
ArcelorMittal is set to take full ownership of AM/NS Calvert if Nippon Steel finalizes its pending acquisition of U.S. Steel.