Ottawa Knew Algoma Steels Layoff Plan When $400M Loan Was Given: CEO

Then-Liberal Leader Mark Carney makes an announcement during a tour of Algoma Steel in Sault Ste. Marie, Ont., on April 25, 2025. The Canadian Press/Sean Kilpatrick12/3/2025|Updated: 12/3/2025The federal government was aware that Algoma Steel was restructuring and could lay off workers when it provided the company a $400 million loan a few weeks ago, according to CEO Michael Garcia.Algoma, based in Sault Ste. Marie, Ont., provided a four-month layoff notice to 1,000 employees on Dec. 1.Noé Chartier is a senior reporter with the Canadian edition of The Epoch Times. Twitter: @NChartierETAuthor’s Selected Articles