Latest U.S. Steel layoffs tied to decline in oil and gas industry

U.S. Steel Corp. is laying off 800 employees and idling two tubular steel operations in Alabama and Texas due in part to the slowdown in the energy sector, reports the Pittsburgh Business Times. Included in the cutbacks were workers at Lone Star Tubular Operations in Texas, Fairfield Tubular Operations in Alabama and 120 salaried employees in Lorain, Ohio, Alabama and Texas, according to the newspaper. U.S. Steel said the cuts are being made because of challenging market conditions, including fluctuating oil prices and reduced rig counts in the oil and gas business. For more, read the full story.

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