Skip to main content

Featured

Algoma Steel Announces Over 1,000 Layoffs Amid Tariffs and Transition

  Reeling from high tariffs imposed by U.S. President Donald Trump, Algoma Steel confirmed Monday it has issued layoff notices to about 1,000 workers.  Algoma Steel, a major employer in Sault Ste. Marie, Ontario, has confirmed plans to lay off more than 1,000 workers in the coming months. The company issued 1,050 layoff notices as part of its decision to shut down its blast furnace and coke oven operations, accelerating its transition to electric arc furnace (EAF) technology. The layoffs, expected to take effect by March 23, 2026 , come as Algoma faces mounting financial pressures. The company reported nearly half a billion dollars in losses last quarter and cited “unprecedented tariffs” imposed by the United States as a key factor in reshaping its competitive landscape. Union leaders from United Steelworkers Locals 2724 and 2251 confirmed the layoffs, noting that while the workforce had anticipated job reductions tied to the EAF transition, the U.S. tariffs accelerated ...
Post a Comment
Read more

article

Labels

Grocery prices to rise by up to 4.5% in 2024, report predicts

 

The annual Canada’s Food Price Report forecasts that the average Canadian family of four will spend $700 more on food in 2024, reaching a total of $16,297.20. The report, which is produced by four Canadian universities, projects that bakery, meat and vegetables will see the highest price increases, up to 7 per cent.

The report attributes the rising food costs to several factors, including interest rates, energy costs, climate change, transportation expenses and geopolitical risk. However, it also notes that the rate of increase is slowing compared to the previous two years, when the COVID-19 pandemic disrupted the food supply chain and caused inflation to spike.

Some essential items, such as dried pasta, sauces and canned goods, could become cheaper in 2024, as grocery chains compete for customers and benefit from lower commodity prices. The report also suggests that families spent less on groceries in 2023 than in 2022, possibly due to higher housing costs and debt levels.

Labels:

Comments

Post a Comment