Cleveland-Cliffs CEO Slams Canada Over Stelco Job Cut Threats
Cleveland-Cliffs CEO Lourenco Goncalves criticized the Canadian government for threatening legal action and forced asset sales following job cuts at the Stelco steel unit.
Lourenco Goncalves, Chief Executive Officer of Cleveland-Cliffs Inc., criticized the Canadian government on October 15, 2026, for threatening legal action following job cuts at the Stelco steel unit in Ontario. Speaking on BNN Bloomberg Television, Goncalves characterized the government's approach as bullying.
He warned that the Treasury Board of Canada's threat to force a sale of the company's Ontario assets could discourage future foreign investment in the country. Goncalves stated that the company did not expect to be treated like a "pariah" less than two years after acquiring Stelco.
