Algoma Steel got a $400M loan from the Liberals in September.
Today it laid off 1000 people. pic.twitter.com/HOy0jwXl52
— HoCStaffer (@HoCStaffer) December 1, 2025
Thoughts and prayers from the Honourable Member for Garnier-Clairol-L’Oreal
How it started…
L – Did that order to produce and put some steel in the spines of Liberals get cancelled? A pity!
Is Justin still getting his “10% for the Big Guy” or does that automatically move to Carney’s slush fund when he took over?
Asking for a friend 😉
oh lOOk terry sheenan MP for ‘the soo’ is a . . . . wait for it . . . a LIBERAL so BOO HOO HOO & HA HA HA
What this says is that their 4th quarter numbers are going to be horrendous. Their third quarter was a $485.1 million loss. That $400 Million loan was to keep their head above water and offset that loss. The fact that they are laying off 1,000 suggests that the trend continues and the 4th quarter is going to be worse than the previous.
They are going to have to learn how to breathe under water.
The money went into a pocket of someone who doesn’t wear a yellow vest.
New Sport Courts and personal skating rinks for the execs.
Forty percent of staff is massive. The Libs won’t be able to sweep that under the carpet. But Canadians will keep telling themselves that we struck a bigger blow by keeping American liquor off the store shelves, or something like that.
Oh, look at that. US Steel is on a hiring spree….and some of the offered positions in manufacturing are listed at $50 per hour.
“How much steel are you using, Todd?”
Not enough apparently.
Correct me if I’m wrong, but I recall Skidmark Carney saying a while back…”Who uses steel?”
My Uncle and Cousin were Algoma guys for decades. My Uncle even lost an eye at the plant, but he was a stalwart Greek and carried on.
Here’s to the real men who built this former country, eh?
Who uses steel? Shipyards use steel. Shipyards that make submarines, for example. If only there was a way to connect the two…
Oil pipelines are predominately made from low carbon steel. Alberta’s govt should personally visit Algoma Steel and work out a tentative deal for manufacturing oil pipelines for Crude referring to the MOU just issued by Carney.
It’s my belief that the MOU is a stalling technique by Ottawa and they have no intention of following through. But, calling that bluff in such a way damages the Liberals, because Algoma would be forced to pick a side, as would that region of the country which employs quite a few people from the area. It, also, takes control out of Carney’s hands.
Less than two years ago, I saw steel on a federal construction site that came from Indonisia. Now the feds didn’t directly purchase it, but they could have contractually had it sourced from Canada.
Or maybe BC ferries?
But but but greener futures expected
In 2022, following a comprehensive risk assessment and stakeholder engagement process, Algoma began construction on two state-of-the-art Electric Arc Furnaces (EAFs) to replace our existing No. 7 Blast Furnace, Cokemaking, and Basic Oxygen Steelmaking operations.
This transformational EAF investment allows Algoma to deliver on its purpose to build better lives and greener futures. It will also enhance product quality, increase production, and reduce carbon emissions by up to 70%, creating value for all stakeholders and ensuring the benefits of our steel endure for generations to come
Transition to EAF – Algoma Steel
https://www.algoma.com/sustainability/transition-to-eaf/
Guessing this move plays as big or bigger part in Algoma’s woes as US tariffs beginning this year. One article said CAD $900+ million was already invested in this transition to EAF.since 2022.
Arc furnaces are awesome, but they use a lot of electricity. I guess now their carbon emissions will be reduced by 100%.
Meeting the goal of net zero sooner rather then later.
Not fully meeting them though. Still too many metal beams and nails previously used in house construction. Tear it all down, that’s the net zero way.
I guess la Nina got the note turning on the cold now that the COP is done. 5 degrees colder than normal for most of Canada for the next couple of months, wattsupwiththat(.com) anyways?
Mark Carney owns shares in three of the five biggest steel companies in the US; namely Nucor, Steel Dynamics, Cleveland Cliffs.
He does not own any Algoma shares.
Real people (and, as usual, at Christmas,) are facing a very, very scary future. They were sold a bill of goods that The Greatest Economist Ever ™ would turn away the Bad Orange Man. Economic reality continues to punch this benighted Dominion in the face. One wonders what and when will be the final blow to knock some sense in to it.
I really feel for these people who are now facing such an uncertain future. I honestly don’t know if PP would have been able to do anything different or accomplish anything. This so-called nation has been living on borrowed time (and money) for quite a period. The cracks are starting to get bigger and bigger.
We in Alberta will await those people that will inevitably seek a better future here. Just do not bring the stupid attitude that has sunk you out there.
I hope and pray that these workers (it’s not just the 1000 at Algoma, others will lose their jobs in a corollary effect) will be ok. If there is any consolation to be had, perhaps it is that at Christmas, maybe they can appreciate that the money they paid for the butter that costs 3x too much is being sent to a poor, deserving multi-millionaire dairy farmer in Quebec, because, you know, they are waaaayyyy more important than anyone else.
The end of canaduh can’t come soon enough. Vive Alberta Libre!
Chris
I’v been hearing that whine since about 1982, and you are still in the dominion, what’s up with that?
I know right! What is up with that???
Except, rapidly unfolding events will see the fracturing that has been simmering under the surface come to fruition. It won’t be any Alberta referendum that does it either.
Thank God they’ll be using Korean and Chinese steel for the floating LNG terminal in B.C.
amirite Liberal MP for Sault Ste.Marie Terry Sheehan? Blaming Trump for your problems can only take you so far before people stop buying what you’re selling.
I see he’s getting it good and hard in the TorSun comments. Good.
Chumps.
All for one, and one for all.
https://www.imarinenews.com/15485.html
https://thetyee.ca/Opinion/2025/06/23/Case-Building-BC-Ferries-China/
Trump gets it. Nobody else gets it. The Communist Chinese underprice their steel production to destroy the steel industry in the rest of the world.
Do you know when they announced these layoffs? January 17th, 2025, when they announced that they were closing the No 1 line and the 106 Line when they finished converting the mill from Primary Blast Furnace to Electric Arc Furnace. Seems like the new Furnaces can’t produce the steel required for these products, and no one seems to want to pay extra for “Green Steel”, not even BC shipyards to build the new ferries.
All that has happened is that the layoffs came a year earlier than expect, because “Trump” but also, because no one wants to buy their steel.