48 h. ago Ontario, Ottawa knew of Algoma Steel’s layoff plans, CEO says

"I don't think anybody would loan the company half a billion dollars without asking very detailed questions," says Algoma Steel's CEO.

Other

52 h. ago Ford says he knew layoffs were coming before loaning Algoma Steel $100M

The steel giant announced Monday it would lay off roughly 1,000 workers as a Sault Ste. Marie plant closure is being made to adapt to a “fundamentally altered” landscape.

Economics

3 d. ago LILLEY UNLEASHED: Does Carney care about talking to Trump after 1000 Canadian steel jobs gone?

WATCH: Sun political columnist Brian Lilley asks if the loss of 1000 jobs at Algoma Steel in Sault.Ste. Marie, is enough to make Mark Carney care about talking to Donald Trump. What do YOU think? Tell us your thoughts in the comment section below or send us a Letter to the Editor for possible publication […]

Transport

3 d. ago Algoma Steel highlights new strategy after layoffs as it looks to lower costs

SAULT STE. MARIE — The CEO of Algoma Steel says he recognized the need to accelerate the company’s plan to lower its costs well before tariffs came into play, as the company plans to let go of more than 1,000 workers. Michael Garcia says in a statement that the strategy includes transitioning to electric arc […]

Economics

3 d. ago Algoma Steel to lay off 1,000 employees, blames Donald Trump’s tariffs

Announcement comes two weeks after Sault Ste. Marie-based company received $500M in government financing

Economics

4 d. ago Algoma Steel to lay off 1,000 workers in coming months, union says

SAULT STE. MARIE — Algoma Steel is laying off more than a third of its workforce as it accelerates a transition to new equipment in response to U.S. tariffs. The company started issuing some 1,050 layoff notices Monday morning, said Bill Slater, president of United Steelworkers Local 2724, including about 150 to his members. “There’s […]

Society

4 d. ago Algoma Steel to lay off 1,000 workers over ‘unprecedented tariffs’

Algoma Steel said Monday that it plans to lay off about 1,000 workers due to impacts from tariffs imposed by U.S. President Donald Trump's tariff policies.

Society

3 w. ago Reverse mortgages edge up as U.S. economy squeezes older Americans

Loan type that surges during times of duress makes a comeback amid persistent inflation and benefit cut

Events

4 w. ago Ontario ‘adjudicating’ more tariff loan applications, only $100M handed out so far

The Fall Economic Statement, tabled Thursday, confirmed Ontario has given $100 million to tariff-battered Algoma Steel, but has not finalized agreements with any other companies.

Economics