Joly presses Stelco’s U.S. owner to present job-saving plan in 5 days
The federal government is turning up the heat on the U.S. owner of Stelco Holdings Inc. over impending layoffs at the Hamilton-based steel plant.
Industry Minister Mélanie Joly has expressed her "extreme disappointment" over Stelco Holdings Inc.'s decision to lay off 500 workers at its Hamilton-based steel plant due to U.S. tariffs and market pressures. In a letter to Stelco president Paul Simon, Joly highlighted Canada's conditions for approving Cleveland-Cliffs' acquisition of Stelco in 2024, which included maintaining the number of union jobs and the majority of non-union positions.
Despite Cleveland-Cliffs CEO Lourenco Goncalves publicly supporting U.S. steel tariffs, Joly asked for a response from the U.S. owner within five days, warning of potential legal action if the company fails to comply, such as a judge ordering the company to meet its obligations, imposing penalties or even ordering a sale of the business.
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