Stelco's U.S. owner says steelmaker had 'strongest' quarter since acquisition as massive layoffs underway

Stelco had its best quarter since its acquisition by U.S. company Cleveland Cliffs in 2024, but this financial success comes with a harsh twist as hundreds of employees in Ontario are facing layoffs in Hamilton and Nanticoke. The contrasting outcomes highlight the complex nature of corporate performance and its impact on workers. This situation underscores the challenges companies face in balancing profitability and employee welfare, especially in a competitive global market.