Part 2/15:
Interestingly, despite the layoffs coming amidst financial support from government loans and grants, questions are swirling about whether the job cuts were necessary or deliberately timed to cause maximum hardship. In 2022, Al Steel received around $330 million from the government, including $200 million earmarked as a forgivable loan upon switching to electric arc furnace (EAF) technology—a move that would naturally reduce the need for traditional (and more labor-intensive) furnace operations. Later, the company was also given $500 million in low-cost loans by federal and Ontario governments, ostensibly to buffer against economic shock and support their workforce.