This time though, the cause of the layoffs is the cost of electricity. Kaiser has a contract for power, so it has the rights to a certain amount. But with the rising costs of electricity, the company can make more money selling that electricity than it can using it to make a product.
    That means the Mead smelter will be shut down completely, cutting 400 jobs. Those steelworkers will be laid off for ten months, but will get full medical benefits, and be paid up to 70% of their wages.
    The sale of the power is worth about $52 million. The shutdown is expected to be complete in just a couple of days.