Carpenter and Tenaris to cut jobs

摘要

Two steel companies are reducing their workforce in the US in response to the ongoing downturn in the oil and gas sector. Speciality steel and alloy producer Carpenter Technology is axing around 200 salaried posts, about 10% of that section of its payroll. The cutbacks are part of a restructuring plan which includes elimination of an estimated 60 outsourced positions as well as other non-labour operations, such as exiting an ultra-fine grain materials development programme. The total immediate cost of the changes is put at $24 M (?22.3 M), with annual savings of $30 M to come.