Skip to comments.Massive Layoffs Hit One of Top U.S. Aluminum Plants, Halting Operations
Posted on 06/23/2022 3:52:21 AM PDT by EBH
One of the U.S.'s top aluminum manufacturing plants has made massive cutbacks to its workforce, putting a halt to all operations for at least nine months, the company said on Wednesday.
Citing an "unprecedented rise in global energy prices," Century Aluminum in Kentucky announced they will be laying off 628 Hawesville Smelter employees starting August 5. In fact, mass layoffs are happening nationwide as fears of an economic downturn continue to escalate.
Century wrote in a letter to employees obtained by the Owensboro Times, which read:
"Unfortunately, an unprecedented rise in global energy prices arising from the Russian war in Ukraine has dramatically increased the price of energy in the U.S. and around the globe.
"The cost required to run our Hawesville, KY, facility has more than tripled the historical average in a very short period. Given these circumstances it is necessary to fully curtail operations for a period of approximately nine to twelve months at Hawesville until energy prices return to more normalized levels."
It added that in order to pause their operations for such a lengthy period, the layoff of the 628 Hawesville Smelter employees would need to take place.
The 628 employees also include 504 employees represented by the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial Service Workers Union, and the American Federation of Labor-Congress of Industrial Organizations, the letter stated.
(Excerpt) Read more at msn.com ...
Article goes on for several more paragraphs discussing some things we really are not hearing about in the MSM.
It gives one pause to consider that Biden's employment numbers are being grossly falsified.
Lay-offs at 95 technology companies affecting 48,000 people since January.
Tesla cuts and the Real Estate cuts happening now.
It is worth noting that this particular plant is known for producing the aluminum used in F-16s and Naval warships.
But.... but.... but.... our economy is the best it’s ever been with help wanted signs popping up all over the country.
Will any of the union leaders be removed from office?
“Unfortunately, an unprecedented rise in global energy prices arising from the Russian war in Ukraine.”
Who’d-a-thunk-it? Russia controls global energy! In 2019 the United States was energy independent.
The “recovery” ended in March. There has been no further improvement in the critical Fed EMRATIO (employment-population ratio) since then, and I expect a decline for June.
The Fed started the EMRATIO as a substitute for the unemployment rate when it became apparent that this was entirely untrustworthy after 2008. Not publicised that Ben Bernanke said as much in Congressional testimony. Several times.
Wait........why don’t they put up the propellers and the 100’s of acres of Chinese solar panels to power that smelter? We’re supposed to go Green, like they’re forcing on us all....
The layoffs did not cause the halt in operations--it was the other way around.
Even if the US were energy independent it would still be subject to global prices. One would have to ban US petroleum and refined products exports to disassociate the US from global prices. This was the case btw back in the 1970s.
You can't fix a problem until you have properly identified the problem. More Russia Russia Russia BS.
He finally gets to destroy America and doesn't even get the historical blame.
One of three smelters.
Best economy ever.
We’re in the beginnings of a recession; not to difficult to see.
spot price of 2500usd per metric ton
is off its hi but seems reasonable
Recession for now. Lots of chatter from economic observers that this is setting up for some really bad times.
Agreed; some scary times ahead, especially for those not ready for it, and even for those of us who are ready.
"Unfortunately, an unprecedented rise in global energy prices arising from the Russian war in Ukraine has dramatically increased the price of energy in the U.S. and around the globe.”It would seem the executive ranks are either die-hard Dems, want to suck-up to Biden to curry favor, or are economic illiterates.
There has to be a first in every thing.
I suspect this is the first of many manufacturing layoffs to come. Then on & on until 2023 will look a lot like 1933
Unemployment is relatively low because they fell off the U-6 metric.
That’s why the labor force participation rate decreased.
After 6 months without a job, poof…you’re not unemployed anymore.
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