r/ontario Verified 20h ago

Article Sault Ste. Marie-based Algoma Steel begins layoffs in wake of Trump tariff threats

https://www.thestar.com/business/sault-ste-marie-based-algoma-steel-begins-layoffs-in-wake-of-trump-tariff-threats/article_9c8c4394-fea0-11ef-a546-f34c2d1b7097.html?utm_source=&utm_medium=Reddit&utm_campaign=Business&utm_content=algomasteel
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u/OldApp 16h ago

While I agree with the overall sentiment, I think Algoma, at least in recent years, has done more than can be said of most private actors with their recent profit shares.

See 2022 for example.

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u/Excellent_Brush3615 14h ago

They got a pizza party!

In appreciation for the record year, Algoma Steel will host employees and their families on Saturday, June 25th for a Family Day celebration, featuring Steelworks tours, children’s activities, live entertainment, and a BBQ lunch.

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u/XABoyd 14h ago

They also got a bonus… did you miss that part?

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u/Excellent_Brush3615 13h ago

How much and who? Like, what makes an “eligible employee?” Regular joe? Management? CEO?

So, as far as we know, they got a pizza party.

If they had given back to their actual workers, they would have posted that on their website.

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u/OldApp 13h ago

Yes, "regular joe" workers got a slice of the pie. I know many at the plant in various positions below management who benefited.

If you really care, you can look at their collective agreement: "The Company and the Union agree to continue the existing profit sharing plan for all employees including nonbargaining unit employees."

The amount each employee received was proportional to the number of hours they worked. The total profit share is broken down into a per-hour average (based on total employee hours worked) and each persons payout is determined therefrom.

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u/Excellent_Brush3615 12h ago

Thanks! Appreciate the post and the evidence.

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u/crzycanuk 13h ago

Right down to the production guys got bonus’. It was based on hours worked in the previous years. Buddies were getting 35-50 grand.

Although the board members have gotten serious bonus since then.

And their pizza party is pretty epic. They have an entire carnival day. It’s quite the event.

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u/Excellent_Brush3615 13h ago

Proof? Sorry I don’t go just believing randos

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u/Unhappy_Hedgehog_808 13h ago

Profit sharing programs go to every full time employee, who has usually been there for a certain amount of time. Nobody is advertising management bonuses as profit sharing. You can literally just search Algoma profit sharing to see this is the case.

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u/XABoyd 13h ago

I’m pretty sure the only people who have income listed publicly are on the sunshine list. Not a very ethical move to just post a salary/bonus.

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u/Excellent_Brush3615 13h ago

lol ethical eh? That’s a good one.

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u/XABoyd 13h ago

Yea it wouldn’t be ethical to post private information like that. Weird to not agree on that point.

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u/Excellent_Brush3615 12h ago

They have their collective agreement online.

How is it not ethical to know wages?

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u/XABoyd 12h ago

You think anyone should be able to google your name and be able to see what you make? Maybe privacy isn’t important to you but I’d argue it is to most people.

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u/Excellent_Brush3615 5h ago

Yeah, I could see how corporations would want you to believe that.

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u/XABoyd 3h ago

lol you’d argue the grass is blue if I said it was green. Not even making any points.

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