- U.S. Steel (NYSE:X -2%) clarifies comments made yesterday by CEO Mario Longhi, saying he was referring to the overall U.S. steel industry, not just the company, when he spoke about potentially restoring up to 10K jobs in the U.S.
- Responding to a question in a CNBC interview about initiatives proposed by Pres.-elect Trump, Longhi said, "I'm more than happy to bring back the employees that we were forced to lay off during the depressing period... [which] could be close to 10,000 jobs."
- The domestic steel industry has been forced to lay off 16K-plus employees since January 2015; U.S. Steel has cut ~7K jobs since 2007.