Canada gives Cleveland-Cliffs 15 days to reverse planned job cuts
Canada gives Cleveland-Cliffs 15 days to reverse planned job cuts OTTAWA, Oct 22 (Reuters) - Canada on Thursday gave US steelmaker Cleveland-Cliffs CLF.N 15 days to reverse planned job cuts at an Ontario steel mill or face sanctions that could include a forced divestiture of the plant.
Ottawa made the demand in a letter from Industry Minister Melanie Joly, who says the plan violates employment commitments Cleveland-Cliffs made when it bought the Stelco plant. The company denies the charge.
Joly said that if Cleveland-Cliffs failed to agree to the government's demands within 15 days, she could go to court to force the sale of the plant and also impose a daily fine of C$10,000. The letter was released to the media.
(Reporting by David Ljunggren
Editing by Nick Zieminski)((david.ljunggren@tr.com; +1 647 480 7891;))
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