RG Steel to begin layoff of over 3,500 Monday
May 30, 2012 | 02:55 PM
| Chris Prentice
NEW YORK The layoff of more than 3,500 workers at RG Steel LLCs facilities is set to begin June 4 as the company initiates an idling process that may be permanent, according to notices sent to state officials in Maryland, Ohio and West Virginia.
The impending layoffs come amid an "immediate, unexpected liquidity crisis" and a sales process "fraught with uncertainty," the Sparrows Point, Md.-based steelmaker wrote in a letter obtained by AMM that accompanied its Worker Adjustment and Retraining Notification (WARN) Act notices.....
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