Wintrust Business Minute: United States Steel could see thousands of job cuts

Wintrust Business Lunch

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

United States Steel says thousands of job cuts could happen if its acquisition by Nippon Steel is blocked. U.S. Steel operates facilities in northwest Indiana. The company says without the support of Nippon, it would have to pivot away from blast furnaces, a move that would imperil jobs and undermine the competitiveness of American steel industry. Politicians and union leaders have been pushing to stop the acquisition by the Japanese company so that the American steel industry doesn’t come under foreign control. Nippon has promised to invest nearly $3 billion in U.S. Steel’s older mills including $300 million for the Gary Works facility.

Also, Chicago-based Molson Coors Beverage Company is cutting some of its diversity efforts after a right-wing activist threatened to target the company. Listen for more below:

https://serve.castfire.com/audio/6256120/6256120_2024-09-04-174320.64kmono.mp3

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