They can't say that we didn't warn them:
More than 600 Iron Range steelworkers will be out of a job as mines that supply the struggling auto industry go offline.
Cleveland-Cliffs will temporarily idle two Minnesota operations: Hibbing Taconite Co. in Hibbing and the Minorca Mine in Virginia. The Ohio-based company, North America’s largest producer of flat-rolled steel, has notified the state of the upcoming layoffs, according to a statement Thursday.
“These temporary idles are necessary to rebalance working capital needs and consume excess pellet inventory produced in 2024,” the statement said. “We remain committed to supporting our employees and communities while monitoring market conditions.”
The executives of the company are still hoping to rake in a nice little profit from this, hoping that it will help their company somehow. Perhaps they should refamiliarize themselves with the Great Depression and how it started. And their loved ones better keep them out of tall buildings for the foreseeable future.
