Steel News

Algoma Profit Share Sets New Record

6/24/2022 - Algoma Steel’s employee profit sharing program has set a new company record for the highest amount awarded to employees. 

As Algoma reports, the company is paying out, in total, CA$150.7 million to employees in fiscal 2022. Awarded in two installments, it’s the most the program has returned on a per-employee basis, the company said. 

“This past year, Algoma saw record safety performance, revenues, and cash flows with much of that success attributable to our employees’ hard work and dedication. Together we are demonstrating that bold transformation, the continued pursuit of excellence and success go hand in hand at Algoma,” said Algoma chief executive Michael Garcia.