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According to news from Intrepid, in order to improve profitability, the company laid off 44 employees at the Carlsbad mining site on January 11.
According to local media reports, the layoffs will be carried out across the company, and the number will be close to 5% of the company's employees.
In Eddie County, New Mexico, approximately 800 to 850 employees will be laid off.
These actions are seen as part of the profitability restructuring of Intrepid Potash Corporation.
Several factors, including oversupply of potash fertilizer, weak demand and low prices, are the main reasons for layoffs.
According to reports, Intrepid Potash Company lost $8.
1 million in the third quarter alone.
According to reports, employees of the Jazz and Denver factories will also be laid off one after another.
Foreign media previously reported that 35 employees were dismissed falsely.
In fact, 44 employees were dismissed this time.
According to local media reports, the layoffs will be carried out across the company, and the number will be close to 5% of the company's employees.
In Eddie County, New Mexico, approximately 800 to 850 employees will be laid off.
These actions are seen as part of the profitability restructuring of Intrepid Potash Corporation.
Several factors, including oversupply of potash fertilizer, weak demand and low prices, are the main reasons for layoffs.
According to reports, Intrepid Potash Company lost $8.
1 million in the third quarter alone.
According to reports, employees of the Jazz and Denver factories will also be laid off one after another.
Foreign media previously reported that 35 employees were dismissed falsely.
In fact, 44 employees were dismissed this time.
