Recent events
Recent events tied to this brand in public sources.
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2026
Cleveland-Cliffs reports third-quarter earnings
Cleveland-Cliffs reported third-quarter net earnings of US$612 million, up from US$286 million in the previous quarter, and said the results were its strongest quarterly financial results since before its acquisition of Stelco.
2026
Canada's industry minister demands compliance plan from Stelco and Cleveland-Cliffs over job commitments and threatens enforcement
Canada's Industry Minister Melanie Joly said Wednesday that Stelco Holdings and its U.S. parent Cleveland-Cliffs cannot characterize planned layoffs of up to 500 workers as an 'act of God' or force majeure, saying the employment undertakings made when Ottawa approved the 2024 takeover are binding. She said she sent a letter on Monday to Stelco president Paul Simon demanding a plan outlining how Cleveland-Cliffs intends to comply with all undertakings, including maintaining more than 1,500 jobs, and warned that Ottawa will pursue enforcement action if the company does not comply. Ottawa had not yet received a response from Stelco on the letter.
2026
Stelco plans to lay off up to 500 workers amid U.S. tariffs and market pressures
Stelco Holdings, the Hamilton-based steelmaker owned by U.S.-based Cleveland-Cliffs, has a plan to lay off up to 500 workers, which it attributes to U.S. tariffs and market pressures. Canada's industry minister disputes the cuts, saying they conflict with binding employment commitments made when Ottawa approved Cleveland-Cliffs' 2024 takeover of Stelco.
2026
Stelco begins issuing layoff notices as first job cuts set to take effect Oct. 11
Stelco, the Canadian steelmaker owned by Cleveland-Cliffs, began issuing individual layoff notices in Hamilton on Oct. 7, 2026, with about 90 workers expected to receive notices this week; the first layoffs take effect Sunday, Oct. 11, with roughly 330 Hamilton workers expected to be affected over three weeks, plus additional cuts at Lake Erie Works (where 40 to 50 workers could be laid off as early as Oct. 24 as pickling-line operations are reduced) and among co-op workers. The move implements a plan announced the prior week to lay off up to 500 workers across the Hamilton and Lake Erie facilities, citing the ongoing trade crisis, weak demand and continued import pressure. Cleveland-Cliffs CEO Lourenco Goncalves said the layoffs are temporary and that workers will be brought back once a Canada-U.S. steel trade deal is reached.
2026
Canada industry minister demands plan from Cleveland-Cliffs to honour Stelco acquisition commitments
On Monday, Oct. 5, 2026, Canadian Industry Minister Mélanie Joly sent a letter to Stelco president Paul Simon demanding a plan outlining how Cleveland-Cliffs will honour the legally binding commitments it made when it acquired the steelmaker in 2024, including maintaining at least the same number of unionized employees and the vast majority of non-unionized employees for five years. Joly rejected the suggestion that U.S. tariffs and changing market conditions relieve the company of those obligations. Cleveland-Cliffs CEO Lourenco Goncalves called her comments totally unfair and said the company would respond to the letter by Tuesday, Oct. 13, within the five-business-day deadline, preparing two submissions, including a plan to meet its commitments and a detailed document with commercially sensitive information he said would be protected under the Investment Canada Act.
2026
Cleveland-Cliffs announces $1 billion investment in Middletown, Ohio steel operations
US Vice President JD Vance announced a $1 billion investment by Cleveland-Cliffs in its steelmaking operations at the Middletown Works facility in Middletown, Ohio. The investment is intended to modernise the plant, upgrade its iron-making furnace, introduce new technology to improve operations and local air quality, protect existing jobs and create new employment.
2021
ArcelorMittal announces sale of Cleveland-Cliffs shares
ArcelorMittal announced an agreement to sell 40 million Cleveland-Cliffs common shares through a fully underwritten public market offering. The announcement describes this as a divestment and says proceeds will be used for an ArcelorMittal share buyback programme.
2020
Cleveland-Cliffs announces planned purchase of ArcelorMittal’s US operations
Cleveland-Cliffs announced plans to purchase ArcelorMittal’s US manufacturing operations for $1.4 billion. The proposed transaction includes steel plants, coal-coking plants, and iron-ore mining operations.
2020
ArcelorMittal agrees to sell ArcelorMittal USA
ArcelorMittal entered into an agreement to sell all shares of ArcelorMittal USA to Cleveland-Cliffs in a $1.4 billion transaction.
2020
Cleveland-Cliffs completes acquisition of AK Steel
Cleveland-Cliffs announced that it had completed its acquisition of AK Steel Holding Corporation, integrating the steel producer into its business.