OmniSource Southeast said cutting work force

Nov 20, 2012 | 04:17 PM | Sean Davidson

Tags  scrap, OmniSource, PSC Metals, Schnitzer, Steel Dynamics, Sean Davidson

NEW YORK — OmniSource Southeast, a division of scrap major OmniSource Corp., is in the midst of an organizational restructuring that will result in between 40 and 50 layoffs, sources familiar with the situation told AMM.

A weak business environment and related margin compression is the primary driver behind this "right-sizing," according to sources familiar with the development.

Sources estimated the layoffs will represent about 10 percent of the division’s work force and will occur across all areas of the business. The layoffs started last week, one source said.....

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