Nippon Steel Pledges No Layoffs Before 2026 in US Steel Bid
- Japanese firm sends union a document formalizing its promises
- Nippon Steel letter says it’s working to build ties with union
A United States Steel Corp. steel mill in Braddock, Pennsylvania.
Photographer: Justin Merriman/BloombergThis article is for subscribers only.
Nippon Steel Corp. made what it calls a formal commitment on spending and jobs to the United Steelworkers union, backing up a pledge made in an earlier meeting as the Japanese steelmaker looks to build support for its $14.1 billion acquisition of United States Steel Corp.
Nippon Steel delivered the proposed “bilateral agreement” last week, according to two people familiar with the matter and a letter sent to US Senators Bob Casey and John Fetterman. Both are Pennsylvania Democrats who have opposed the purchase.