Algoma Steel plans to lay off more than 1,000 workers over the coming months, the union representing some of the employees says.
Bill Slater, president of United Steelworkers Local 2724, says the Sault Ste. Marie-based company issued 1,050 layoff notices this morning, including about 150 to his members.
Algoma did not immediately respond to a request for comment.
The job cuts come as Algoma has accelerated plans to shut down its blast furnace and coke oven operations as it transitions to more efficient electricity-based steel production.
The company also reported almost half a billion dollars in losses last quarter as the 50 per cent tariffs on steel imposed by the U.S. effectively shut it out of the market.
Prime Minister Mark Carney last week announced its latest package of measures aiming to boost the domestic market for steel and lumber producers, including tighter quotas on foreign steel entering Canada and a promise to trim freight rates for inter-provincial rail travel.
