US Steel making new pay cuts
United States Steel, the nation's largest steelmaker, has announced that it is cutting the salaries of 28,000 employees by 5 percent because it faces staggering losses for the last three months of 1982.Skip to next paragraph
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Word of the cuts was contained in a letter sent by chairman David Roderick to 18,000 members of management and 10,000 salaried and nonunion hourly-wage workers. It was the second 5 percent cut in seven months for management employees.