Boart Longyear has laid off 127 employees at its North Bay operation Wednesday, in addition to 48 laid off in October. About 100 people remain employed at its office and manufacturing facilities in the city.
The company, which is headquartered in Salt Lake City, Utah, provides mineral exploration drilling services and products around the world. The layoffs are not isolated to North Bay, since the company has trimmed its global staff by 1,800.
“It is part of a global effort we have been engaged in in the last month or so,” said Jay Clement, vice-president of investor relations and treasurer at the company's Utah office. “We have reduced staffing levels at all of our manufacturing facilities around the world, as well as some of our service operations around the world.”
In July, Atlas Copco laid off more than 15 people at its North Bay operation. Sandvik Mining and Construction announced in September that its North Bay operation will close and relocate to New Brunswick, affecting more than 40 employees. Attempts to reach a spokesperson as to when that will occur were unsuccessful.
Although the mining services market has softened, Clement said the industry may rebound.
“This market is changing. We think we are getting into a period where we are seeing signs where it is stabilizing from a macro-global perspective, not just North Bay,” he said.
“I think we will have a much better view of where this market is heading as we enter early 2013, when people get new budgets and more confidence. Hopefully right now we are holding tight and treading water and we will just see where it goes from here.”