Hamilton steel plant, Stelco, laying off hundreds of workers in response to ‘market uncertainty’
Stelco Holdings Inc. says it will “idle finishing operations” at their Hamilton Works facility in the face of “market uncertainty.” In a statement on Monday afternoon, Stelco says the decision will impact up to 500 of its employees. “In the face of continued market uncertainty and prolonged injury to Stelco’s business resulting largely from steel […]
Stelco, a steel plant in Hamilton, is set to lay off up to 500 workers due to "market uncertainty" and "continued market uncertainty and prolonged injury to Stelco’s business resulting largely from steel imports into Canada." The decision, announced on Monday, will idle finishing operations at the Hamilton Works facility. Stelco spokespersons stated that they are evaluating the situation and may reconsider operations if conditions improve.
The company plans to shift focus to its Lake Erie facility in Nanticoke, Ontario, for production. Some affected Hamilton employees will be offered jobs at the Lake Erie facility, but the exact number is still undetermined. Cleveland-Cliffs Inc., the parent company of Stelco, acquired the company in 2024. The move coincides with Canada's steel industry facing challenges from U.S. tariffs.
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