Ottawa warns Stelco owner of penalties, forced sale over layoffs

Industry Minister Mélanie Joly warned U.S. steelmaker Cleveland-Cliffs it could face financial penalties or forced divestiture of Stelco if it proceeds with up to 500 layoffs in Hamilton and Nanticoke, Ontario. She says the cuts would breach employment guarantees accepted when Ottawa approved the $3.4-billion takeover in 2024.