AM I NEXT? NO LOVE AT NUSCALE POWER CORPORATION

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?

AM I NEXT? NO LOVE AT DTE ENERGY

Detroit, Michigan-based DTE Energy, a diversified energy company involved in the development and management of energy-related businesses and services in the United States and Canada, is implementing a voluntary layoff initiative.

According to Diane Antishin, vice president of Human Resources and chief diversity and inclusion officer, "DTE Energy has a new plan to trim its workforce and said it hopes to keep electric and gas bills affordable."

The power company is offering voluntary buyouts to 30% of its 10,000-employee workforce. Most of the targeted employees are primarily in corporate and staff roles.

The company-issued statement noted, "We’re taking action to further focus on what matters most to our customers: providing increasingly safe, reliable and cleaner energy while keeping their bills affordable during this time of massive investment in transforming the way we generate and distribute energy. At the same time, this voluntary program will enable us to provide new opportunities for our team members to learn, grow and contribute while keeping DTE a great place to work.

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?

AM I NEXT? NO LOVE AT LUMINANT ENERGY

Irving, Texas-based Luminant, an energy business specializing in power development, generation, marketing, trading, and mining, operations, has announced that Luminant will completely cease operations at their Liberty Mine and lay off additional workers at their Martin Lake Beckville Mine and the Martin Lake Railroad.

Approximately 160-170 employees will be laid off on December 26, 2021.

According to a company statement, "As Luminant has planned for some time, the Liberty Mine that provided lignite to the Martin Lake Power Plant since 2014 will be closing by the end of 2021. The estimated 160-170 employees impacted were informed earlier this year. Luminant deeply thanks and appreciates the men and women who’ve worked at Liberty and their dedication to powering Texas."

"The Liberty Mine closure was a part of the company's long term fuel plan and the Martin Lake power plant will now operate on coal from the Powder River Basin which spans parts Wyoming, Montana and South Dakota."

Part of the decision was environmental as coal-fired power plants struggles to meet environmental regulations, and part economic as the company was losing market share to more efficient gas-power plants.

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. 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?