Algoma Steel is cutting 1,000 jobs. So why did it receive millions from the government?
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Just over two months after it was announced Algoma Steel would receive $500 million in government loan guarantees, the steel producer said it was issuing 1,000 layoff notices to workers at its plant in Sault Ste. Marie, Ont. The layoffs raise questions as toAlgoma Steel is cutting 1,000 jobs. So why did it receive millions from the government?
Just over two months after it was announced Algoma Steel would receive $500 million in government loan guarantees, the steel producer said it was issuing 1,000 layoff notices to workers at its plant in Sault Ste. Marie, Ont. The layoffs raise questions as to why it was receiving millions of dollars yet still cutting jobs. Read more
