Stelco owner hopes to recall laid-off steelworkers before Christmas

Cleveland-Cliffs Inc. CEO Lourenco Goncalves expressed hope to recall laid-off Stelco workers before Christmas, provided a strategy to boost Canadian steel sales materializes. In a written statement to The Canadian Press, Goncalves clarified that the initial estimate of 500 layoffs was incorrect; the actual number is 175, contrary to an internal letter sent to employees on September 28 warning of potential job losses at Hamilton Works and Lake Erie Works in Nanticoke, Ontario.

The company is no longer considering Stelco for sale at least for the remainder of the year, and Goncalves criticized Industry Minister Mélanie Joly for discussing potential buyers publicly, arguing that such discourse discourages foreign investment in Canada and disparages the company's business strategies.