Profit sharing

US Steel Announces Record Incentive Bonuses – Inside Indiana Business

Gary Works of US Steel (photo courtesy of Times of Northwest Indiana/Joseph S. Pete)

Steelworkers in northwest Indiana are getting more good news. Pittsburgh-based US Steel (NYSE:X) says employees, including those at the Gary Works plant and the Midwest plant in Portage, will win bonus checks of up to $14,000 based on profits company records of $1.1 billion in the second quarter, according to our partners at The Northwest Indiana Era.

The publication reports that steelworkers will receive $30.72 per qualifying hour in profit-sharing bonuses, which is part of US Steel’s contract with the United Steelworkers union. Bonuses are for the three-month period ending June 30.

“That’s second for the second quarter and the second highest ever after the third quarter of last year,” said Amanda Malkowski, media relations manager for US Steel. The temperature. “When we succeed, we reward our employees with the profit sharing they deserve. They are at the heart of everything we do. We wouldn’t do anything without them.

The news comes less than three months after US Steel announced it had begun construction of a $60 million cast iron foundry at Gary Works, which is expected to create 25 jobs.

“In northwest Indiana, we’re hiring,” Malkowski said. “There is a bit of growth with the hog thrower at Gary Works. And we are still recruiting in this market. We want to remind people that if we do well, they do well.

You can read the full story from The Northwest Indiana Era by clicking here.