Stelco Owner Has 15 Days to Reverse Layoffs Before Ottawa Takes Legal Action: Joly
Industry Minister Mélanie Joly says she is giving Stelco’s parent company 15 days to reverse its decision to lay off nearly 500 workers before taking legal action. Joly posted a message on social media on Oct. 22, saying she had sent an 11-page “demand letter” to Ohio-based Cleveland-Cliffs, directing the company to comply with the […]
Industry Minister Mélanie Joly has given Cleveland-Cliffs, the parent company of Stelco, 15 days to reverse its decision to lay off nearly 500 workers. Joly sent an official demand letter to the Ohio-based company, insisting they comply with legally binding undertakings made under the Investment Canada Act. These commitments, made during the $3.4 billion acquisition of Stelco Holdings Ltd. in November 2024, included maintaining employee numbers.
- Industry Minister Mélanie Joly has issued a 15-day deadline to Stelco’s parent company, Cleveland-Cliffs, to reverse layoff decisions.
- Failure to comply may result in legal action from the Canadian government.
- The demand stems from alleged breaches of legally binding undertakings made under the Investment Canada Act during the 2024 acquisition.
- Commitments included maintaining employee numbers for five years post-acquisition.
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