AltaSteel is a Canadian steel manufacturing company headquartered in Edmonton, Alberta.
Founded in 1955, the company produces carbon and alloy steel products, including rebar, grinding media, and specialty steel for the construction, mining, and automotive industries. AltaSteel operates an electric arc furnace (EAF) steel mill, using recycled scrap metal as a primary raw material.
In February 2020, AltaSteel was acquired by Kyoei Steel, a Japanese steel manufacturer, from its previous owner, Molycop. The company employs over 300 professionals in roles such as metallurgists, mill operators, maintenance technicians, and quality control specialists.
Severance pay for AltaSteel employees
In Canada, non-unionized employees at AltaSteel are entitled to up to 24 months of severance pay when laid off or terminated without cause—whether full-time, part-time, or hourly.
WATCH: Employment lawyer Lior Samfiru breaks down everything you need to know about severance pay on an episode of the Employment Law Show.
Key facts:
- Severance pay is calculated using a variety of factors, such as age, position, length of service, and ability to find similar work. Learn more about severance pay in Ontario, Alberta, and British Columbia.
- Severance packages should include salary, bonuses, commissions, and other compensation earned during employment.
- Employees generally have up to two years from the date of their termination to pursue full severance pay.
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