Post by : Meena Ariff

Algoma Steel revealed plans to lay off approximately 1,000 employees at its Sault Ste. Marie facility, effective March 23, 2026, as the company phases out its blast furnace and coke-making operations. This decision represents nearly one-third of the workforce.

Citing “extraordinary market forces” and significant U.S. tariffs on steel, Algoma is hastening its move to an electric arc furnace, previously set for 2027, to compete effectively in a tough global landscape.

Union officials confirmed that a substantial number of members received layoff notifications, although final totals are still pending verification. The company is looking into support programs for affected workers, such as skills retraining and assistance in trades.

Despite the federal and provincial governments providing $500 million in loans aimed at safeguarding jobs, these layoffs highlight the mounting challenges within Canada’s steel sector. Local authorities express concerns that these job losses could have a prolonged adverse effect on the economy of northern Ontario.

This action underscores the precarious nature of manufacturing employment in Canada amid ongoing global trade disputes and technological advancements in the industry, raising alarms about future job prospects in the area.

#Business News #Canada #Canada News