Ford says he knew layoffs were coming before loaning Algoma Steel $100M

Global NewsWednesday, December 3, 2025 at 4:50:05 PM
Ford says he knew layoffs were coming before loaning Algoma Steel $100M
  • Algoma Steel announced the layoff of approximately 1,000 workers due to the closure of its Sault Ste. Marie plant, a decision made to adapt to a significantly changed industry landscape. This announcement follows a statement from Ford indicating he was aware of the impending layoffs prior to providing a $100 million loan to the company.
  • The layoffs and plant closure highlight the challenges faced by Algoma Steel in a transforming market, raising concerns about the future of employment in the region and the sustainability of the steel industry amid economic shifts.
— via World Pulse Now AI Editorial System

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