Reductions and cost-cutting at Bethlehem

Bethlehem Steel Corp. plans to reduce the number of non-union, salaried workers by 141 between now and 31 August as part of an effort to improve its financial performance and reduce costs, spokesman Steve Donches has said. The statement said the steps include obtaining advice and assistance from external advisors with steel industry expertise and various cost-cutting actions. On 24 April Bethlehem Steel reported a first-quarter loss of USD 118 million compared to its year-earlier profit of USD 3 million, citing high steel inventories, low demand, and the sluggish U.S. economy. The company has also hired a consultant well-known for his ability to cut costs and improve production at steel mills, Thomas Graham . Mr Graham is reputed to have a successful track record of turning companies into low-cost producers. He was president of both USX-US Steel Group and AK Steel Holding Corp.

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