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AK at 50% Capacity

Printed From: MiddletownUSA.com
Category: Middletown Area Business
Forum Name: Middletown Area Businesses
Forum Description: News, Information from and about area businesses
URL: http://www.middletownusa.com/forum/forum_posts.asp?TID=1006
Printed Date: Nov 21 2024 at 1:25pm


Topic: AK at 50% Capacity
Posted By: Middletown News
Subject: AK at 50% Capacity
Date Posted: Feb 20 2009 at 10:28am
James Wainscott, AK CEO, reportedly said that U.S. steel manufacturers are currently operating at about 50 percent of capacity. 
 
Wainescott asid about 1,000 of its 6,500 employees at nine plants have been laid off and the number of laid off workers will "probably double."
 


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Replies:
Posted By: Middletown News
Date Posted: Feb 20 2009 at 10:29am
Wainscott said the "buy American" provisions in the $787 billion federal stimulus plan are common sense. I would have to agree to disagree on this one.

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Posted By: Middletown News
Date Posted: Feb 20 2009 at 10:45am
Looks like another 1000 workers could be idled at AK according to Wainscott.

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Posted By: VietVet
Date Posted: Feb 20 2009 at 11:43am
Wainscott says that more layoffs will happen. Questions for Wainscott- How many of these layoffs will be manager positions? How many upper management positions will be cut- ie- Directors on up? How many upper and middle managers retained will take pay cuts and how much of a cut- percentage wise? Why do you need a company spokesperson like Alan McCoy if times are lean? Can't you consolidate job duties like this to save money on salaries and bennies? How many assistants to the assistants will be retained? Usually, when a company reduces the workforce, they mention labor positions, but seldom mention middle/upper management cuts where the real money is retained by the company. We will never know thw answers to these questions. Big doggies never reveal info. about their kind.

Posted By: spiderjohn
Date Posted: Feb 20 2009 at 3:25pm
lol vet
AK ain't the city--it is a public-owned company that can do whatever they choose.
I didn't read anything anywhere as to him asking for public opinion on how to run the company.

Posted By: VietVet
Date Posted: Feb 20 2009 at 3:44pm
Yeah, but if you've been caught in or read about downsizings over the years, as a worker at Wainscott's company, you'd like to hear that they're also choppin' at the top, Spider. Been there, done that. You know- equal pain throughout the company. I realize that it ain't public and they can chop whenever and where they want. Wasn't telling him how to run his little company- just trying to make a point that the cuts usually come out of the worker pool while the big money stays put. Sorry the message was misinterpreted.

Posted By: spiderjohn
Date Posted: Feb 20 2009 at 3:59pm
no prob vet
I know hou you feel
I can only say that private business is getting very shaky now for pretty much everyone.
Sales are in the tank globally.
Don't need workers when ya don't need to produce anything and can't sell existing inventories..
Don't need labor or management

Posted By: arwendt
Date Posted: Feb 23 2009 at 1:21pm
If a failing company can be compared to a sinking ship then it's just a matter of time before every rat is in the water.

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