Algoma Steel Receives Millions from Government Despite 1,000 Layoff Notices
ByAinvest
Wednesday, Dec 3, 2025 4:06 am ET1min read
ASTL--
Algoma Steel is cutting 1,000 jobs despite receiving $500 million in government loans. Industry experts suggest the funding is for leading-edge technology to reduce greenhouse gas emissions and help the company survive the impact of US tariffs. The Canadian government has deemed steel a strategic industry and necessary for domestic production.
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