No layoff rumors here, this is for real, Temporary Closure
700 folks will be cut, so no rumors, just facts - this was announced already and I believe we filed a WARN notice with the state. If you are in Pittsburg, there will be no escape, just move on, screw Koreans.
That's the rumor - You never know but I seriously doubt it, many things are pointing to an improving industry conditions, so POSCO will just continue to do well. You never know, but I'd bet that we'll have an outstanding 2014 without layoffs.
Metals are really hot commodity right now and POSCO is perfectly positioned right now - so buy POSCO stock and you will not make a mistake - no layoffs here and it's healthy.