Sherritt to temporarily lay off 280 workers as refinery shutdown continues
Bitget2026/11/04 12:18- Sherritt will temporarily lay off approximately 280 employees, or 47% of its Canadian workforce, to preserve liquidity while pursuing a refinery restart.
- Layoffs are expected to last approximately 90 days, with earlier recalls possible depending on operational requirements.
- Refining at Fort Saskatchewan, Alberta, stopped June 22, 2026, when feed inventory was depleted; fertilizer production and essential maintenance will continue.
- Direct participation in Cuban joint ventures was suspended May 7, 2026, following expanded US sanctions, constraining liquidity.
- The first required US emergency license arrived October 19, 2026; additional licenses are needed to restart Cuban operations and Canadian refining.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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