1
                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                   Form 8-K

                                CURRENT REPORT

                      Pursuant to Section 13 or 15(d) of
                      the Securities Exchange Act of 1934

                                 June 7, 2002
                              ------------------
                       (Date of earliest event reported)

                          BETHLEHEM STEEL CORPORATION
                          ---------------------------
            (Exact name of Registrant as specified in its charter)

               Delaware                  1-1941          24-0526133
   -------------------------------    ------------   -------------------
   (State or other jurisdiction of    (Commission    (I.R.S. Employer
    incorporation)                    File Number)   Identification No.)

1170 Eighth Avenue
Bethlehem, Pennsylvania                                          18016-7699
- ----------------------------------------------------------------------------
(Address of principal executive offices)                         (Zip Code)

Registrant's telephone number including area code: (610) 694-2424
                                                   --------------




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Item 5.  Other Events

         On June 7, 2002, Bethlehem Steel Corporation issued a press release
concerning its trading suspension from the New York Stock Exchange, Inc.
prior to the market opening on Wednesday, June 12.  The press release is
attached as an Exhibit to this Form 8-K.


Item 7.  Financial Statements and Exhibits

(c)  Exhibits

Exhibit No.       Exhibit

99.1              Press release of Bethlehem Steel Corporation dated
                  June 7, 2002.


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                                   SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.

                                         BETHLEHEM STEEL CORPORATION
                                                (Registrant)

                                         by:  /s/ L. A. Arnett
                                              ---------------------------
                                              L. A. Arnett
                                              Vice President and Controller
                                              (principal accounting officer)

Date:  June 10, 2002




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                             INDEX TO EXHIBITS


Exhibit No.        Exhibit

99.1               Press release of Bethlehem Steel Corporation dated
                   June 7, 2002.





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                                                        Exhibit 99.1

FOR IMMEDIATE RELEASE


        BETHLEHEM STEEL EXPECTS TO BE QUOTED ON THE OTC BULLETIN BOARD
                AFTER NEW YORK STOCK EXCHANGE SUSPENDS TRADING


         BETHLEHEM, Pa., Friday, June 7, 2002 - Bethlehem Steel Corporation
(NYSE:BS) announced today that prior to the market opening on Wednesday, June
12, 2002, the New York Stock Exchange, Inc.(NYSE) will suspend trading of the
Corporation's common stock, $5.00 cumulative convertible preferred stock, $2.50
cumulative convertible preferred stock and 8.45% debentures due March 1, 2005.

         The NYSE will thereafter commence proceedings with the Securities and
Exchange Commission to delist the issues.  The NYSE reached its decision
because Bethlehem has been unable to comply with the NYSE's continued listing
standard requiring an average closing share price of not less than $1 per share
over a consecutive 30 trading day period.

         Bethlehem expects that its common and preferred stock will be quoted
on the OTC (over-the-counter) Bulletin Board ("OTCBB") beginning on June 12,
2002 under new ticker symbols.  The OTCBB is a regulated quotation service that
displays real-time quotes, last-sale prices and volume information in OTC
equity securities.  Additional information about the OTCBB may be found at
www.otcbb.com.  In addition, Bethlehem expects that its debentures will be
quoted on the National Quotation Service's "Yellow Sheets," a centralized
quotation service that collects and publishes market maker quotes for OTC debt.
Additional information regarding the "Yellow Sheets" may be found at
www.pinksheets.com.  Bethlehem intends to issue a press release when its new
ticker symbols have been assigned.  Investors should be aware that trading in
Bethlehem's equity and debt issues through market makers and quotation on the
OTCBB and the














"Yellow Sheets" may involve risk, such as trades not being executed as quickly
as when the issues were listed on the NYSE.

         Robert "Steve" Miller, Jr., Chairman and Chief Executive Officer of
Bethlehem said, "We are working with the NYSE to facilitate a smooth transition
to the OTCBB and the 'Yellow Sheets,' and do not expect the change in trading
venue to affect our current operations or financial performance.  We continue
to vigorously pursue strategic alternatives in developing a chapter 11 plan of
reorganization to assure that our excellent steel facilities that are capable
of producing high-quality, low-cost products remain a key part of the North
American steel industry.  In addition, we expect to maintain adequate liquidity
through this year and into next as our business outlook and the steel market
conditions continue to improve."

         Bethlehem Steel Corporation is the second largest integrated steel
producer in the United States.  On October 15, 2001, Bethlehem and certain of
its subsidiaries filed voluntary petitions for chapter 11 bankruptcy protection
in the United States Bankruptcy Court for the Southern District of New York
(Case Nos. 01-15288 (BRL) through 01-15302 (BRL) and 01-15308 (BRL) through
01-15315 (BRL)).

FORWARD-LOOKING STATEMENTS:

         Certain statements in this release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those indicated in forward-looking
statements due to a number of factors, including changes arising from our
chapter 11 filing.  Due to material uncertainties, it is not possible to
predict the length of time we will operate under chapter 11 protection, the
outcome of the proceedings in general, whether we will continue to operate
under our current organizational structure, whether there will be a major steel
industry consolidation effort, the effect of the chapter 11 cases on
Bethlehem's businesses, including customer and supplier reactions and the
interests of various creditors and security holders.  Additional factors that
may affect our business and financial results are changes in customer spending
patterns, supplier choices and demand for steel products; the effect of planned
and unplanned outages on our operations; the potential impact of strikes or
work stoppages at facilities of our customers and suppliers; the sensitivity of
our results to relatively small changes in the prices we obtain for our
products; intense














competition due to excess global steel capacity, low-cost electric furnace
facilities, imports (especially unfairly-traded imports) and substitute
materials; the consolidation of many of our customers and suppliers; the high
capital requirements associated with integrated steel facilities; the
significant costs associated with environmental controls and remediation
expenditures and the uncertainty of future environmental control requirements;
availability, prices and terms associated with raw materials, supplies,
utilities and other services and items required by Bethlehem's operations;
employment matters, including costs and uncertainties associated with our
collective bargaining agreements, and employee postretirement obligations; the
effect of possible future closure or exit of businesses; our highly leveraged
capital structure and our ability to obtain new capital at reasonable costs and
terms; financial difficulties encountered by joint venture partners; and the
effect of existing and possible future lawsuits against us.  The
forward-looking statements included in this document are based on information
available to us as of the date of this release, and we assume no obligation to
update any of these statements.