Algoma Steel CEO walks away with $6.8 million in wake of 1,000 layoffs and billion-dollar loss

Algoma Steel's CEO, Michael Garcia, is walking away with a $6.8 million compensation package despite the company experiencing a billion-dollar loss and laying off 1,000 workers in 2025. This move has sparked significant backlash, particularly from the United Steelworkers union, which has criticized the disparity between executive pay and the company's financial struggles. The situation highlights deeper issues regarding corporate accountability and executive compensation amid significant workforce reductions.