Portland, Oregon-based NuScale Power Corporation, a nuclear engineering company that designs and markets small modular nuclear-based power generation reactors, announced a 28% reduction in the company's headcount.
The reduction in force impacts 154 employees. The decision to reduce headcount appears to be part of a companywide cost reduction initiative. Possibly to compensate for the loss of a major project.
According to John Hopkins, NuScale President and Chief Executive Officer...
NuScale Power Corporation, the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, announced certain strategic actions to better position itself commercially, financially, and strategically.
Currently, NuScale is taking steps to transition from R&D to commercialization and aims to focus resources in key strategic areas as part of its growth and to strengthen its position going forward.
These strategic actions reinforce NuScale’s business as the leading SMR technology provider and align resources with core priorities, which include advancing revenue-generating projects, securing new orders, and positioning NuScale toward long-term success.
NuScale’s strategic actions are projected to result in approximately $50-60 million in annualized savings, which includes a workforce reduction of 154 full-time employees, representing approximately 28 percent of full-time staff. We continue to invest in our future, including work needed for the near-term deployment of our SMR power plants powered by our 77 MWe NuScale Power Modules.”
NuScale continues to be deeply committed to its mission of delivering safe, clean, and cost-effective nuclear energy solutions.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?