Afternoon Coffee: US Steel Lays Off 25% of Nonunion Employees, Airfreight Industry Banks on Amazon’s Cargo Business

Africa Studio/Adobe-Stock Africa Studio/Adobe-Stock

U.S. Steel announced this week it would lay off about 25% of its North American nonunion employees, impacting about 750 people. The layoffs come after the Pittsburg-based steelmaker lost $1.5 billion in 2015.

The airfreight industry is hoping Amazon’s recent decision to lease cargo planes could spur business. Some airfreight companies are reportedly trying to arrange meetings with Amazon to offer their services and capacity to the e-commerce company.

Amazon also recently added same-day delivery service for Prime members in 11 cities throughout the United States. The service is now available in 27 cities. Best Buy, too, is offering same-day delivery in 13 markets now.

A new report from AsiaInspection predicts global trade in 2016 may start to rebalance with China showing signs of recovery. The report also identified major risks associated with fast growing exporters Vietnam, Bangladesh and Egypt .

 

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