After months of speculation about the company's next move, R.G. Steel officials said on Thursday that layoffs are right around the corner.

NEWS9 obtained a copy of the Worker Adjustment and Retraining Notification Act (WARN) notice that was sent to the United Steelworkers union on Wednesday.

The notice tells union members that lenders are suspending funds, and now R.G. Steel officials are looking for a buyer for some or all of the company's assets.

Facilities in Yorkville, Martins Ferry, Wheeling and Steubenville-Mingo will be idled. The layoff process will start on June 4, but there is a 14-day process where the layoff procedure will be implemented.

Mountain State Carbon in Follansbee -- also owned by R.G. Steel -- will continue to operate without layoffs.

R.G. Steel released the following statement on Thursday: "Since there is continued uncertainty regarding outcome of discussions with our lenders as to the required level of funding to support the working capital necessary to sustain business operations, we felt it prudent to issue the WARN Notices at this time."

Jerry Conners, USW Local 1223 president, said, "This phrasing in here -- 'unexpected liquidity crisis,' what does that say to you? They don't have any money. I mean, they have no cash on hand. … I don't know where, why they think it's unexpected. I mean, it's something they've been going through since April or May of 2011."

As of Thursday afternoon, it was still unclear how many workers will be affected, but the notice has been sent to all steelworkers who are employed at the Sparrows Point, Warren and local plants.

Conner said he knows that WARN notices never invoke a feeling of confidence.

"They're in financial trouble and it very well could be the end of the company," Conners said.

Thursday afternoon, Dave McCall, District 1 USW director issued the following statement:  "Our union is continuing to work closely with RG Steel management to improve the company's liquidity during this time, and we are focused on preserving the tradition of making steel in our communities for the long term."

The layoffs will affect steelworkers, but others weighed in on the trickle-down effect.

"I'm a cement finisher. When they don't work, I don't work," said Brent Barton, who worries about the WARN notice issued. "Mill workers, they like to put room additions on and that's where I come in. They're not working, I'm not working so that's the trickle-down effect. …People around here need all the help we can get so just keep hoping maybe this new buyer will turn it around."

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