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The company is issuing notices to 2,080 workers at its
Granite City Works facility in Illinois.
U.S. Steel's shares rose 2.5 percent to $25.32 in early trading
on Wednesday.
"Global influences in the market like reduced steel prices,
unfair trade, imports and fluctuating oil prices continue to
have an impact on the business," the company said.
A stronger dollar has made imports cheaper and steel from China
has been flooding the U.S. market in the past few quarters,
hurting prices and leading to job cuts and plant closures at a
number of steel producers in the United States.
U.S. Steel announced the permanent closure of its Granite City
Works coke-making facility in January and cut 176 jobs.
The company's profit and revenue fell in the fourth quarter
compared with a year earlier and it warned that low oil prices
and a strong U.S. dollar could hurt business this year.
U.S. Steel had about 23,000 employees in North America and about
12,500 in Europe as of Dec. 31, according to a regulatory
filing. (http://bit.ly/1CXY41m)
Up to Tuesday's close, the stock had fallen about 8 percent this
year. (Reporting by Rohit T. K. in Bengaluru; Editing by Simon
Jennings)
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