Commercial Metals to cut almost 1,500 jobs

AP News
Posted: Oct 07, 2011 9:33 AM
Commercial Metals to cut almost 1,500 jobs

Commercial Metals Co. says it plans to sell or close a number of facilities, leading to the loss of nearly 1,500 jobs.

The Irving, Texas, company which makes and markets steel and metal products has been hurt by weak construction demand.

More than 1,100 jobs will be lost at a steel pipe manufacturing plant in Croatia. Commercial Metals says it plans to either sell or close the plant after it winds down production over the next several months.

In addition to those jobs, the company says it will lay off 350 more employees across its business. It will close five rebar fabricating locations.

It says eight construction services locations are either in the process of being sold or have already been closed.