Steel Manufacturer’s Cost-Cutting Efforts Continue

CANTON, Ohio (AP) — Cost cutting efforts at an Ohio steel manufacturer eliminated 14 percent of the workforce over the last year, the company said.
TimkenSteel recently eliminated 55 salary positions and ended a scholarship program for children of employees, The Canton Repository reported.
Early this year, the company set a goal for improved profitability of approximately $50 million per year, with $35 million realized this year. Job cuts, including some top management positions, started i