Steel Mills
Cliffs: The Vax Incentive Program Worked
Written by David Schollaert
August 24, 2021
Cleveland-Cliffs reported that its COVID vaccination incentive program worked. In July, the steelmaker launched a voluntary bonus program, in collaboration with its labor unions, to achieve a higher vaccine adoption rate across the business. The company says it reached a total vaccination rate of 75%, or nearly 19,000 employees out of its 25,000 workforce, by the Aug. 21 due date.
Under the program, Cliffs agreed to pay an employee at least $1,500 to receive a COVID-19 vaccine. An additional $1,500 would be paid out to locations that reached a 75% vaccination threshold. The 45-day program was initiated at a time when the company’s vaccination rate was 35%, or roughly 9,000 employees.
The company’s feat exceeds vaccination rates of the local communities where the facilities are located and is well ahead of the national vaccination rate.
“I am delighted with the success of our vaccine incentive program,” said Lourenco Goncalves, Cliffs chairman and CEO. “I appreciate the support of our local managers and union partners in making herd immunity a reality at the majority of our locations.” He added: “I implore both my steel producing peers and all other companies who have not already done so to implement similar programs in order to defeat this nasty virus in our country once and for all.”
Cliffs’ Indiana Harbor mill achieved a vaccination rate of 78%, while its Middletown Works and United Taconite both reached a 75% vaccination rate.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Mills
Nucor’s Utermark to retire in June
Chad Utermark, executive vice president of new markets and innovation, plans to retire effective June 7.
Nippon could up investment in USS facilities to $7B: Report
It's the latest twist as the proxy battle heats up for Pittsburgh-based U.S. Steel.
Hybar expansion still on the table as Arkansas mill startup nears
As Hybar nears the completion of its $700-million rebar mill in Arkansas, the company said it is still “actively considering” building other steel facilities in the southern US.
Global steel production edges lower in February
February’s global raw steel output is tied with last December's for the fourth-lowest monthly production rate recorded over the past two years.
Fate of U.S. Steel hangs in the balance
The future of U.S. Steel remains unclear, but the proxy fight for control of the company is heating up. Shareholders will cast their votes on the company's future at the annual meeting in May.