Warren Steel Holdings Updates Workers on Business
WARREN, Ohio -- Mahoning Valley media outlets, led to believe the worst, camped out at the Technology Building at the Kent State University Trumbull Campus in Champion Township as employees of Warren Steel Holdings LLC met inside, rumors of a plant shutdown swirling.
Instead, the employees were attending what was characterized as “part of a new initiative aimed at keeping employees better informed about the business,” according to an email from a company spokesman.
“Warren Steel Holdings is not shutting down,” said Jason Chudoba, an account director with IRC Inc., a New York-based financial communications firm, on behalf of Warren Steel Holdings.
“This afternoon’s meeting will inform employees about the latest company developments, including relevant changes in business operations, market conditions and performance updates,” the statement continued. “The purpose of these routine meetings is to foster a deeper understanding and appreciation of the business among employees. Warren Steel Holdings believes that this form of open communication with its employees is an integral part of best positioning the company for long-term success.”
Some workers who asked not to be identified spoke of upcoming wage cuts and already reduced work hours. One claimed he would see his pay cut by $600 per month.
Following the meeeting, which lasted more than two hours, a plant official confirmed hours were being cut back because of reduced business, but said that workers were also getting a pay increase of $3 per hour.
The Champion plant, located on the site of the former Copperweld Steel mill, employs about 130 employees, down from more than 200, according to one worker. The plant produces carbon and alloy steel continuously cast products. In February, the company announced that it renovated its existing rail siding and introduced several key pieces of analytical equipment, including a scanning electron microscope.
“These capital investments will ensure that we can continue to produce and deliver the highest quality goods for our clients with greater cost efficiencies,” said Steve Clancy, Warren Steel Holdings vice president commercial, in the Feb. 13 news release.
Copyright 2013 The Business Journal, Youngstown, Ohio.
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