Location: New Brunswick, Canada.
Based on news reporting.
Irving Paper has laid off nearly half of its workforce, approximately 500 employees, citing the rising costs of electricity as the primary reason for this drastic decision. The layoffs occurred in New Brunswick, Canada, and reflect the company's struggle to manage operational expenses amidst increasing energy prices. The company has indicated that these cuts are necessary to ensure its financial viability moving forward. This significant reduction in staff highlights the challenges faced by the paper industry in the current economic climate.
New Brunswick cut 500 jobs as of October 1, 2023.
That is roughly 10% of the 5,000 people New Brunswick employs.
LayoffTalk has tracked 10 layoff events at New Brunswick since October 2023, affecting a combined 1,090 employees.
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