United States Steel is going to be laying off 500 employees in the U.S. and 177 in Canada. This announcement comes right on the heels of the company reporting tripled profits for last quarter because of sky-high steel prices. Factory workers will be laid off from Alabama, Indiana, and Michigan while the steel co is making money hand-over-fist.

Company talking head John Armstrong had this to say:

“We regret having to do this, but it’s necessary in order to control costs and maintain our competitiveness in this difficult environment.”

It’s too bad the company chose to lay off factory workers rather than PR bullshitters.

[Yahoo Finance] US Steel lays off 677 workers in US, Canada