AK Steel Holding Corp. imposes 5 percent pay cut

AK Steel Holding Corp. is imposing a 5 percent pay cut on its 1,500 salaried employees starting Jan. 1 because of lessened demand for steel. The company said that it also would implement other cost-cutting measures, including offering retirement incentives. AK Steel has about 6,500 employees at its main steel plant in Middletown and in Mansfield, Coshocton and Zanesville, Ohio; Ashland, Ky.; Butler, Pa.; and Rockport, Ind.