ArcelorMittal's Canadian unit to close Hamilton wire drawing mill, lay off 153 workers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 11 2025
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Should l Buy ?
Source: Reuters
Layoffs and Restructuring: ArcelorMittal's Canadian long products unit is laying off 153 workers and permanently shutting down its wire drawing mill in Hamilton, Ontario, as part of a restructuring to consolidate operations in Montreal.
Impact of U.S. Tariffs: The layoffs come in the wake of increased U.S. tariffs on steel and aluminum imports, which have raised concerns among Canadian companies and unions about potential job losses and reduced sales.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
