Algoma Steel Loan: Saving the Furniture, but at What Cost?
ByAinvest
Saturday, Dec 6, 2025 12:35 pm ET1min read
ASTL--
Algoma Steel received $400M in federal loans despite knowing layoffs would occur. Job and Families Minister Patty Hajdu defends the decision, stating it's to save the steel sector and allow the company to pivot to new products and markets. Hajdu acknowledges the layoffs, but emphasizes the importance of maintaining a sovereign Canadian steel sector. Critics argue the government knew about the layoffs and should have pushed for job guarantees in future loans.
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