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The Northern Plant has been on hold for six months, awaiting a buyer, as Glencore, a KNS shareholder, has decided to sell its stake. This Friday, Corning Nickel announced what is about to happen: the collective layoffs have already begun. As of August 31, around 1,200 employment contracts are at risk of termination. Only around fifty employees remain on site to keep it running in a “cold” standby phase.
The threat looms large over the northern factories. Without the prospect of an eventual recovery, a social program will be triggered. KNS announced in a press release this Friday morning that everything has been done: “Koniambo Nickel launches collective layoffs project for economic reasons”.
“The period Hot Standby Operations were initially scheduled for six months, with a deadline of late August next year.remind management to ensure “The process of finding a buyer is still actively ongoing” “Three groups continue to show interest in our company. However, we have neither a final offer nor any information on the financing of our business.”
“We are therefore forced to continue with the collective dismissal process for economic reasons”explains the press release. “In this context, several meetings are planned with the 1,200 employees affected by the scheme to present the company agreement negotiated with the social partners.” Clear, “Except for a limited team of approximately 50 people necessary to maintain cold standby on site, all employment contracts of Koniambo Nickel employees are subject to termination after August 31, 2024.”
In these extremely difficult times for everyone and every family, we want to reiterate that all those who have contributed to this industrial adventure so far can be proud of it. Their professionalism and dedication, even during the improvement projects carried out in recent weeks, have been exemplary.
KNS Corporation, press release dated July 26, 2024
Despite the announcement, Konimabo Nickel insisted: “The decision to implement PLCME does not call into question the process of finding a new partner, discussions will continue with the active involvement of shareholders, the expert financial advisors in charge of this matter and company representatives.”
Topics on the midday news and 7:30 p.m. TV news
>> Also read: Northern Province votes on emergency aid system to deal with nickel industry crisis
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