Sherritt International Corporation, based in Toronto, has disclosed a significant reduction in its workforce due to ongoing challenges in its metals refining operations. The company will temporarily lay off approximately 280 employees, which accounts for 47% of the total workforce in Canada. This measure is primarily aimed at preserving liquidity as Sherritt strives to resume operations at its refinery located in Fort Saskatchewan, Alberta. While the layoffs are projected to last around 90 days, there is the possibility for employee recall if conditions permit, indicating a fluid response to the company's operational status. The implications of these layoffs are substantial for both the affected employees and the local economy in Fort Saskatchewan, where Sherritt plays a crucial role as an employer.
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