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Layoff Warning At American Steamship In Upstate NY

Stock quotes in this article: GMT  

AMHERST, N.Y. (AP) — American Steamship is warning its crews that there may not be work for everyone this shipping season.

The Buffalo-area Great Lakes shipping company has notified the New York State Labor Department that layoffs may be coming, though it's not yet known how many.

A spokeswoman for American Steamship's Chicago-based parent company, GATX Corp., says the shipper relies on the steel industry for about 50 percent of its business, with iron ore being the largest cargo. But that industry is hurting and American Steamship anticipates less business. ...

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