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U.S. Steel Makes Jobs Announcement Following The Carrier Deal
CEO of U.S. Steel Mario Longhi announced on CNBC’s Power Lunch Wednesday that the steel industry may be rehiring as many as 10,000 former employees who were let go due to a downturn in the economy.
Longhi admitted that as a result of the election, he was feeling “an environment of positive optimism where forces are converging to provide for a better environment.”
More business-friendly tax policies and deregulation were two major factors in his decision to rehire the employees, Longhi explained.
“There was a point in time in the past couple years that I was having to hire more lawyers to try to interpret these new regulations than I was hiring engineers,” he added. “That doesn’t make any sense.”
He also said he is “more than happy to bring back the employees that we were forced to lay off during the depression.”