Hamilton steel plant to lay off hundreds of workers as U.S. tariffs prompt ‘survival’ move
The company said U.S. tariffs and weak imports have shrunk demand for cold-rolled and galvanized products, forcing a production shift to Lake Erie.
- On Monday, Cleveland-Cliffs Inc. announced it will "indefinitely idle" finishing operations at Hamilton Works, resulting in about 350 unionized employee layoffs effective October 9.
- Mounting pressure from 50-per-cent tariffs imposed by U.S. President Donald Trump last year triggered the decision after CEO Lourenco Goncalves warned Hamilton's galvanizing lines faced risk without stronger trade protections.
- Stelco will shift steel production to Lake Erie Works in Nanticoke, Ont., while maintaining approximately 250 coke unit jobs at Hamilton, according to corporate communications director Pat Persico.
- Cleveland-Cliffs shares declined 9% on U.S. markets, significantly outpacing declines at peers Nucor and Steel Dynamics, reflecting investor anxiety over cross-border trade exposure.
- Industry-Wide challenges persist for Canadian steelmakers following Cleveland-Cliffs' 2024 acquisition of Stelco for about $3.4-billion, as ongoing U.S. trade barriers continue restricting market access.
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59 Articles
Stelco’s owner says ‘significant’ number of laid-off Hamilton workers will land at Nanticoke mill; union is skeptical
Stelco’s U.S.-based parent company Cleveland-Cliffs says a “significant” number of the roughly 350 Hamilton steelworkers set to be laid off on Oct. 9 could transfer to the company’s Nanticoke steelworks, as Stelco concentrates steel production in Haldimand County.
Union calls Stelco layoff rationale ‘disingenuous and contradictory’
The union representing Stelco Holdings Inc. workers says the steelmaker’s U.S. parent company is being “disingenuous and contradictory” by blaming the planned layoff of up to 500 workers on the trade war.
John Ivison: There’s more to the Stelco shutdown than Trump winning and Canada losing
The company refused help, including emergency funding that would have sustained operations and avoided layoffs, one official claims.
Stelco cuts expose domino effect of tariffs through supply chain: Experts
Industry experts say the latest round of layoffs in Ontario’s steel belt highlights the ripple effects of U.S. tariffs as their impact reverberates through Canada’s manufacturing supply chain. Stelco Holdings Inc.
Stelco layoffs expose domino effect of tariffs through supply chain: experts
The latest round of layoffs in Ontario’s steel belt highlights the ripple effects of U.S. tariffs as their impact reverberates through Canada’s manufacturing supply chain, industry experts say.
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