Essar Steel Algoma is offering voluntary retirement to the most senior of its 3,500 employees at its Sault Ste. Marie plate and sheet mill.
The privately-owned parent company wants to avoid massive layoffs after the global financial crisis suddenly dried up the company's order book.
Employees were notified this fall of possibly layoffs but the voluntary incentive program is being offered for a limited time and will be capped at 200. The company said the program is designed to protect its most junior workers.
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