Sherritt International to 'Temporarily' Lay off 47% of its Canadian Workforce

09:26 AM EST, 11/04/2026 (MT Newswires) -- Sherritt International (S.TO) intends to "temporarily" lay off about 280 employees, representing 47% of its Canadian workforce, it said in a statement on Wednesday. The temporary layoffs are a part of its ongoing measures to preserve liquidity while the company works toward restoring metals refining operations at its refinery in Fort Saskatchewan, Alberta, it said. The company expects the layoffs to last about 90 days, but employees may be recalled earlier based on operational needs, it added. Certain activities like production and sales of ammonia fertilizer and sulphuric acid, necessary maintenance and ongoing environmental protection and safety activities will continue during the layoff period, the company said. Shares of the company last traded on Nov. 3, closing down 12% to CA$0.205 on the Toronto Stock Exchange.