Amendment No.2 signed to Collective Agreement 2008-2011

This Monday, June 29th, in the presence of the collective negotiators, representatives of USSK management and employees signed Amendment No.2 to the Collective Agreement for the period 2008 - 2011. This amendment deals with the conditions for awarding a one-off pro rata salary payment based on years of employment for employees who volunteer to terminate their employment contract with the Company. "The amendment we are signing is in sharp contrast to the steps being taken by our competitors," said U. S. Steel Kosice President George F. Babcoke, commenting on the impact of the crisis on the steel industry.
"Many firms are laying people off. In Kosice and Serbia we have chosen another approach. We have taken steps in advance, in a considered, planned and responsible manner, which have enabled us to prepare this amendment, in cooperation with the trade unions, which will help us to reduce the costs and increase the efficiency of the Company. At the same time it will benefit the firm's long-term sustainability. Our thanks for their support in preparing this program go also to John H. Goodish and John P. Surma, who put themselves right behind its conception," the President added. He went on to emphasize that the Company is being open with employees in this process, and guarantees transparency in its implementation.

Meetings towards adapting corporate culture on safety

U. S. Steel Kosice President George F. Babcoke, Vice President Management Services and Administration Miroslav Kiralvarga and Vice President Human Resources Martin Pitorak attended the first meeting on June 29th in the second series focusing on the issue of adapting corporate culture in the field of occupational safety and protection. This time the especially important topic of zero injury rate and the steps needing to be taken in order for us to achieve it will be the theme of four familiarization meetings for the managers of the Company and its subsidiaries, which are being held this week.

VUSCH moves into new building

Last Friday, June 26th, SR Health Service Minister Peter Rasi and the General Director of the East Slovakian Institute for Cardio-Vascular Diseases Frantisek Sabol officially opened the Institute's new building in Kosice for its use. The invited guests at the ceremony naturally included USSK Vice President Management Services and Administration Miroslav Kiralvarga, representing the Company employees who supported the voluntary fund-raising at the end of last year, together with Company management and the U. S. Steel Kosice Foundation, raising a total of 123 190 eur (3 741 360 SKK) for the Institute to purchase new instruments for the department of anesthesia and intensive medicine.