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Cleveland-Cliffs Reaches New Four-Year Labor Agreements with United Steelworkers

  • Cleveland-Cliffs Inc. has secured new four-year labor agreements with the United Steelworkers (USW) covering approximately 12,000 employees across steel plants & mining operations in Indiana, Ohio, Pennsylvania, Minnesota, & Michigan.
  • The agreements resolve all USW labor contracts currently due for renewal within the company's operating footprint.
  • CEO Lourenco Goncalves stated the deals recognize employee contributions & provide stability to invest, compete, & strengthen American steelmaking.
  • The new four-year agreements remain subject to ratification by USW local union memberships.
  • Cleveland-Cliffs is a vertically integrated North American steel producer employing roughly 25,000 people in the U.S. & Canada, with a focus on value-added sheet products for the automotive industry.
  • The company highlighted forward-looking risks including potential delays in union ratification, market price volatility, industry competition, & uncertainties related to global economic conditions & trade policies.