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First Uranium Corporation T.FIU



TSX:FIU - Post by User

Comment by colt451on Dec 19, 2011 12:41pm
174 Views
Post# 19334793

RE: Layoffs is basically good news

RE: Layoffs is basically good newsI don't believe there will be a 'one time expense' the passage below talks about a planned Christmas shutdown, if this occurs every year, which it no doubt does, then laying workers off at this time would not necessarily result in compensation given that they are never historically paid during this period.
"While the Company continues to believe in the inherent value and potential of the Ezulwini Mine, decisive action is required in order to stem ongoing operating losses. Although it is the holiday season and the timing is unfortunate, management has determined that action must be taken now to mitigate the effects of the Christmas shut down and provide employees with an opportunity to increase productivity levels while reaching a consensus around the nature and scope of changes necessary to implement the new operating plan.
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