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Cameco announced that it will permanently lay off about 700 employees, following the weakness of the uranium market.
Approximately 550 employees, including those temporarily laid off, will be released from the McArthur River and Key Lake mining sites in Saskatchewan. "It was a difficult decision to make, because of the impact it will have on our employees, their families, and other stakeholders, but we must take this step to ensure long-term sustainability." of the company, "Tim Gitzel, Cameco's
In addition, Cameco will terminate about 150 business positions
Layoffs have been announced in the quarterly earnings results of the company, which resulted in a net loss of $ 76 million.
Layoffs, Cameco said it expects about $ 40 million in severance pay in the third quarter.
"Our thoughts are with the employees and families who are affected by this news." The Saskatchewan Rapid Response Team will contact Cameco to offer and badist employees affected by this decision, " said Bronwyn Eyre, Saskatchewan's Minister of Energy and Resources, in a statement.
Eyre said that
"All levels of government need to be involved on this important issue to ensure access to the market for Saskatchewan's natural resource industries, such as uranium, we had conversations with the Government of Canada and asked them to take action immediately. "
Saskatchewan accounted for 22% of global primary uranium production in 2017.
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