Steelworkers condemn Algoma’s heartless holiday job cuts [Canadian Business Journal (Canada)]
Algoma Steel Group Inc. (ASTL)
Company Research
Source: Canadian Business Journal
SAULT STE. MARIE, Ontario, Dec. 04, 2025 (GLOBE NEWSWIRE) — Algoma Steel’s devastating announcement of more than 1,000 layoffs will hit workers and Sault Ste. Marie hard on the eve of the holiday season. Not only will this hurt the community, it also is an embarrassment for the federal government, which has supported Algoma during a difficult trade war and transition to new furnaces, the United Steelworkers union (USW) says.Job losses were expected at Algoma due to a transition to electric arc furnace (EAF) steel production as well as the damage inflicted by U.S. President Donald Trump’s imposition of unprecedented 50% tariffs on Canadian steel exports. Algoma has indicated it proceeded more quickly with its transition to EAF production aimed at Canadian domestic customers, since the tariffs have effectively dried up its exports to the U.S.However, the vast amount of public funding provided to Algoma should have included iron-clad conditions and a comprehensive transition plan to aver
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ASTL
News
- Terence Corcoran: Forget Algoma. Here's the real economic story [Yahoo! Finance Canada]Yahoo! Finance Canada
- Steelworkers condemn Algoma's heartless holiday job cuts [Yahoo! Finance]Yahoo! Finance
- Small caps to watch: D2L earnings preview, deals from EQB and Canfor, Tecsys earnings and more [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- A worker is shown at Algoma Steel in Sault Ste. Marie, Ontario on Friday, April 25, 2025. THE CANADIAN PRESS/Sean Kilpatrick [BNN Bloomberg (Canada)]BNN Bloomberg
- Algoma Steel CEO: Feds knew about plans for layoffs before giving $400M loan [BNN Bloomberg (Canada)]BNN Bloomberg
ASTL
Earnings
- 10/29/25 - Miss
ASTL
Sec Filings
- 12/2/25 - Form 6-K
- 12/1/25 - Form 6-K
- 11/20/25 - Form SCHEDULE
- ASTL's page on the SEC website