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Algoma Steel CEO: Feds knew about plans for layoffs before giving $400M loan

Summary by CTV News
The head of Algoma Steel says the federal government and Government of Ontario knew the company’s business plan included a re-tooling of its Sault Ste. Marie plant that would result in layoffs before they agreed to half a billion dollars in loan assistance to help the company weather the storm of U.S. tariffs.

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Algoma Steel CEO: Feds knew about plans for layoffs before giving $400M loan

The head of Algoma Steel says the federal government and Government of Ontario knew the company’s business plan included a re-tooling of its Sault Ste. Marie plant that would result in layoffs before they agreed to half a billion dollars in loan assistance to help the company weather the storm of U.S. tariffs.

·Canada
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CTV News broke the news in Canada on Wednesday, December 3, 2025.
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