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? LAYOFFS AT VISTRA CORPORATION

Irving, Texas-based Vistra Corporation, an integrated retail electricity and power generation company with a diverse portfolio, including natural gas, nuclear, solar, and battery energy storage facilities, has announced the accelerated closure of its coal-fired Zimmer Power Plant located in Moscow, Ohio, from year-end 2027 to May 31, 2022, as the company transitions away from coal-based energy.

The decision was driven in part, by the company's inability to secure energy contracts in the wholesale electricity market auction held by the grid operator, PJM Interconnection.

The closure will impact at least 83 employees.

According to a company statement, "The Zimmer coal-fueled power plant has recently struggled economically due to its configuration, costs, and performance. The PJM capacity revenues are critical to Zimmer, and unfortunately, without them, the plant simply doesn't make money. This decision did not come easy. Our people work hard every single

day to provide power to Ohioans and have done a number of things over the past few years to sustain the life of the plant and improve its economics. But despite their best efforts, the disappointing auction results, along with other challenging factors, make continued economic operation impossible. We're left with a difficult but necessary decision of retiring the plant."

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?

AM I NEXT? NO LOVE AT ENTERGY PALISADES NUCLEAR PLANT

New Orleans, Louisiana-based Entergy, an integrated energy company engaged in electric power production and retail distribution, has announced that it is proceeding on schedule with the pre-planned closure and decommissioning of the Entergy Palisades Nuclear Plant located in Covert, Michigan.

According to a company statement “The Palisades plant will permanently shut down on May 31, 2022, after which the facility will be transferred to Holtec International for purposes of safe and timely decommissioning"

Holtec’s business and the decommissioning process.

Holtec is currently managing the decommissioning of Oyster Creek (New Jersey), Pilgrim (Massachusetts), and Indian Point (New York) nuclear plants.

The closure will immediately impact approximately 184 Palisades plant employees commencing on June 24, 2022, with other layoffs occurring as necessary. Among the 594 current employees, only 260 will stay on to decommission the plant. The total loss of direct and indirect jobs associated with the closure is projected to be 739 positions.

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?