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Cameco Resources cuts production in western states; Leads to more layoffs

(Wyoming) - A recent news release from Cameco Resources Inc. reported that the Canadian/US uranium company is to begin laying off 500 positions across the US and Canada. The company has elected to decrease production in Wyoming and Nebraska mines by focusing on current wells and not creating new ones. Cameco Resources Inc. has two mines in Wyoming, the Smith Ranch-Hiland near Glenrock and the North Butte Mine near Wright. They also have employees working in the US headquarters in Casper. Today Ken Vaughn, Media Relations for Cameco Resources, reported that 85 positions will be cut, a third of the 255 employees working in Wyoming and Nebraska. Wyoming and Nebraska operations will continue to employ about 170 people to operate existing facilities and restore depleted well fields, but new well field development will be stopped. "The hardest part of this is the impact on individuals and their families," said Vaughn, "We will continue to operations, but our production will begin to decline." He continued to report that the layoffs will be happening from now until the end of May. The affected US employees will be offered exit packages with the workforce adjustments to be completed by the end of May. The US operations will continue ongoing licensing efforts to maintain the option to resume development when market conditions significantly improve. Feature Photo: Cameco Resources/Pitchengine Communities #oilcity #news #bootstrapped