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Boart Longyear announces layoffs in North Bay, Cochrane

A total of 41 employees have been laid off; executives taking pay cut
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(Supplied photo/Boart Longyear)

Boart Longyear has temporarily laid off 41 employees from its North Bay and Cochrane operations.

The mining service company announced the layoffs of 17 people on April 30 and announced an additional 24 employees would be laid off in mid-May.

With rising concerns regarding the COVID-19 pandemic, Boart Longyear said, it implemented its "business continuity plan" in early March.

"Impacts from COVID-19 on the Boart Longyear operations increased through March with exploration activities declining, impacted by government-imposed closures along with customers choosing to delay projects," the company stated in a release.  

"Boart Longyear continues to work closely with our customers to continue operations where possible while ensuring we protect our people and the communities in which they work. At this point in time, Boart Longyear has no confirmed cases of COVID-19 of any of its employees at any of its drilling operations, manufacturing facilities and administrative offices."

Further, the company said it has reduced all non-essential operating and capital expenditures.

"As part of these cost reduction measures, the board, CEO and all group executives have elected to temporarily reduce their cash remuneration by 75 to 100 per cent, collectively," the company said.

"Effective from April 6, 2020, the company has temporarily moved into a partial or full stand-down of the workforce in most parts of the business, including significant but temporary reductions to compensation.

"We will be matching our workforce to the activity in each of our business units with a view to continue to provide quality support to our customers." 

Boart Longyear said it's unclear how long these efforts will last.

"The steps taken to date by the executive team have been measured to ensure that Boart Longyear will be in a position to continue to support the mining industry when it returns to its normal operating levels," the release continued. 

Established in 1890, Boart Longyear provides drilling services, drilling equipment, and performance tooling for mining and drilling companies.

Boart Longyear's head office is located in Salt Lake City, Utah. 

– BayToday.ca




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