Cascade Steel Rolling Mills announced another round of layoffs, its fourth in the last 12 months. The officials remain confident the construction market will turn around and the demand for steel will follow. Before the series of layoffs began in December 2008, the mill workforce was about 550. It is now about 400.

Mr Jeff Dyck president of Cascade Steel Rolling Mills said that the McMinnville steel mill was laying off 30 workers in a range of departments, including information technology, finance and human resources as well as production. He said the cuts affect some longtime employees, not just recent hires.

He said that wherever possible, Cascade has moved up maintenance projects, scheduled training sessions and instituted temporary furloughs as an alternative to outright layoffs. But he said the steel market continues to be extremely soft.

Mr Dyck called the layoffs unprecedented and really unfortunate, noting, the action this week was not easy or painless. He added that "We don't have a crystal ball," but company officials remain confident the economy is on the road to recovery, which will eventually trigger renewed demand for steel. They are making every effort to position the company to respond quickly and effectively, he said.

Last month, Ms Tamara Lundgren president & CEO of Cascade Steel Rolling Mills said that weak demand for finished steel products on the West Coast was continuing to drive prices downward. She added that "As a result, first quarter margins are expected to be negative."

(Sourced from Newregister.com)