Transcript
A (0:00)
Imagine the merging of trusted intelligence into a unified experience. Imagine collaboration amongst teams and across continents. Imagine an empowered ecosystem designed to deliver actionable insights that inspire growth and sustainability. That's the power of the Connect Industrial Intelligence platform to help you see further innovate faster, accomplish more. That's the Connect effect. Learn more@thatstheconnecteffect.com.
B (0:31)
This is a CBC podcast.
C (0:40)
We were brought into a meeting at 7:30 this a.m. and notified Christmas is 25 days away. Really? They couldn't wait another month?
A (0:50)
The tariffs and trade war have been no holiday for Canada's steel industry. Now one of this country's largest producers is announcing major layoffs. Even after getting millions in government loans, Algoma Steel is laying off Hundreds of workers welcome to youo World Tonight. I'm Susan Bonner. It is Monday, December 1, just before 6pm Eastern. Also on the podcast, if you can.
C (1:15)
Imagine a cigar burning, it is just creeping up, up and up and spreading. We can't access it.
A (1:22)
The slow burn that firefighters in Canada's largest city just cannot solve. Smouldering for days ins the walls of a Toronto high rise apartment complex with hundreds of people out of their homes, Algoma Steel is laying off about a thousand workers, roughly a third of its workforce. The company is struggling with the effects of US Tariffs, but it has also had government help half a billion dollars that was supposed to keep workers on the job. And Anees Haidari now has more on why Algoma is making the cuts.
C (2:02)
Christmas is 25 days away. Really?
D (2:05)
They really, really, really had to do it today. They couldn't wait another month. December is not starting the way United steelworkers leader Michael Deprat expected.
C (2:14)
We were brought into a meeting at 7:30 this a.m. and notified that notice was being served.
D (2:21)
He represents a majority of the 1,000 Algoma Steel workers being laid off. The company had been planning to shift how and what it manufactures to avoid US Tariffs. So job cuts or job changes were expected, but not this many and not right now.
C (2:38)
What has occurred is that the transfer to the EAF technology happened earlier than expected, in part because of the market and the tariffs, the goal of today's investment.
