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 six legally binding undertakings she said it committed to under the Investment Canada Act in 2024 when it acquired Stelco Holdings Ltd.
The minister said the commitments the company made were “key” to the Canadian government accepting the $3.4 billion transaction in November 2024.
Ottawa has said the commitments included maintaining at least the same number of unionized employees and the vast majority of non-unionized employees as when the acquisition was announced, for five years….